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Morgan Stanley files for bitcoin, solana ETFs in digital assets push
Jan 6 (Reuters) - Wall Street giant Morgan Stanley is seeking regulatory approval to launch exchange-traded funds tied to the price of cryptocurrency tokens, according to filings with the U.S. Securities and Exchange Commission on Tuesday.
Morgan Stanley is looking to launch ETFs tied to the price of cryptocurrencies bitcoin and solana, according to the filings.
The move will deepen the bank's presence in the cryptocurrency space and comes two years after the SEC's approval of spot bitcoin ETFs.
Asset management firm T. Rowe Price had also filed for its first crypto ETF last year, as institutional firms increasingly embrace digital assets.
When governments face persistent high debt, central banks often inject money into the economy to help finance it. This process risks sparking inflation, which gradually erodes the currency's purchasing power, like your dollar buying less bread or gas over time, and stoking demand for alternative investments like bitcoin.
Analysts are confident that bitcoin will catch up to gold this year, pricing the currency debasement fears.
This article has been published in reuters.com via Yahoo News.
Morgan Stanley files for bitcoin, solana ETFs in digital assets push
Morgan Stanley is seeking regulatory approval to launch exchange-traded funds tied to the price of cryptocurrency tokens, according to filings with the U.S. Securities and Exchange Commission on Tuesday, the first such move by a big U.S. bank. Regulatory clarity under U.S. President Donald...
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