CDS Crypto News Morgan Stanley seeks to surpass UBS in becoming the premier Bitcoin ETF bank
Crypto News

Morgan Stanley seeks to surpass UBS in becoming the premier Bitcoin ETF bank

Crypto insider Andrew AP Abacus reports that both Morgan Stanley and UBS are poised to integrate Bitcoin ETFs into their platforms next week.

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Morgan Stanley seeks to surpass UBS in becoming the premier Bitcoin ETF bank

Crypto News– The introduction of spot Bitcoin (BTC) exchange-traded funds (ETFs) in the United States has sparked competition among investment banks vying to be the first wirehouse to incorporate these products.

Morgan Stanley seeks to surpass UBS in becoming the premier Bitcoin ETF bank

Morgan Stanley aims to outpace UBS in securing approval for the Bitcoin ETF, according to crypto enthusiast Andrew (AP_Abacus), who reported on X on April 3.

Referring to internal notes from Morgan Stanley, Andrew indicated that the bank may make its move into Bitcoin ETFs public a few days before implementation.

He also noted that global banks have been actively discussing the addition of Bitcoin ETFs as a competitive race unfolds.

Morgan Stanley seeks to surpass UBS in becoming the premier Bitcoin ETF bank
Morgan Stanley seeks to surpass UBS in becoming the premier Bitcoin ETF bank 1

Bloomberg ETF expert Eric Balchunas chimed in on Andrew’s X thread, highlighting that neither Morgan Stanley nor UBS have incorporated Bitcoin ETFs, citing a solid source.

Morgan Stanley aims to outpace UBS in the race to become the inaugural Bitcoin ETF bank

A spokesperson closely associated with UBS informed Cointelegraph in January that spot Bitcoin ETFs are exclusively available within a brokerage account and are deemed suitable only for aggressive investors.

UBS stated in an official statement regarding spot Bitcoin ETFs on January 29, It remains to be seen if the issuers will be able to distinguish themselves in terms of ability to manage the product during turbulent markets.

Despite ETF approval, certain major banks in the U.S. persist in harboring skepticism toward Bitcoin.

Morgan Stanley seeks to surpass UBS in becoming the premier Bitcoin ETF bank

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