Bitcoin ETF Battle: Morgan Stanley Aims To Surpass UBS In Pioneering Efforts

Unveiling novel investment avenues, the potential arrival of spot Bitcoin exchange-traded funds (ETF) within the United States has ignited a fervent competition among esteemed financial institutions, each vying to be the forerunner in introducing such an innovative offering.

Amidst this dynamic landscape, Morgan Stanley has set its sights on outpacing its esteemed counterpart, UBS, in the quest to become the inaugural wirehouse to grant comprehensive approval for the Bitcoin ETF, as reported by the crypto enthusiast Andrew P. (AP Abacus) on X, formerly known as Twitter, on April 3.

Drawing upon confidential Morgan Stanley memoranda, AP Abacus revealed that the venerated bank “may announce a few days before” its entry into the Bitcoin ETF arena.

Moreover, he highlighted that global banking titans have been actively engaged in discussions surrounding the addition of BTC ETFs, perceiving it as a captivating race to cement their presence in this burgeoning sector.

Eric Balchunas, Bloomberg’s ETF expert, joined AP Abacus’ discussion on Twitter. He mentioned that neither Morgan Stanley nor UBS had launched Bitcoin ETFs. According to Balchunas, this information came from a reliable source.

Balchunas proposed they’re waiting for someone to take the lead. Then, others would follow suit. “It’s like a game of chicken regarding compliance,” he said. “They’ll likely all move at once when the first-mover acts.”

Bitcoin ETF Approval Imminent: Rumors

Before sharing the new update, AP Abacus reported that UBS might add Bitcoin ETFs to its platform next week, sometime between April 8th and 12th. This speculation emerged.

However, the recent word about Morgan Stanley potentially rivalling UBS comes after AP Abacus said the bank could greenlight Bitcoin ETFs by next week. A few weeks ago, this was reported.

“Multiple sources verify Morgan Stanley is primed to okay Bitcoin ETFs on their platform within the next two weeks,” the Mar 26 post stated. Short, concise.

We contacted Morgan Stanley and UBS to comment on the possible inclusion of spot Bitcoin ETFs on their platforms but have not received a response by publication.

The author’s views are for reference only and shall not constitute any investment advice. Please ensure you fully understand and assess the products and associated risks before purchasing.