Leading investment banks, Morgan Stanley and UBS are among those that are fiercely competing with one another to offer Bitcoin exchange-traded funds (ETFs) to their clients in the US.
This would mean a huge leap ahead for Bitcoin as far as the main investor’s space is concerned. Spot Bitcoin ETFs start to trade in the US markets next week, but large financial institutions have currently not offered them as an asset class to customers.
One crypto enthusiast by the name of Andrew (AP_Abacus) shared a post on X stating that Morgan Stanley is on target to publish its EFT offering of Bitcoin before UBS.
Nevertheless, several experts believe that both banks are not willing to take the first step on this issue with each other as they are afraid of the regulatory hurdles they might have to deal with.
Andrew’s recent update comes after he previously reported that UBS plans to add Bitcoin ETFs to its platform next week between April 8 and 12th.
The acceptance of Bitcoin ETFs by Morgan Stanley and UBS symbolizes a major milestone in the growth of crypto-currencies. It would manifest the growing confidence of investors in the future of Bitcoin and draw in billions of dollars in new investments.
Also Read: Morgan Stanley Opens Crypto Investing to All of its Clients
