Two of the largest institutions in the financial market are making a commotion in crypto.
As crypto legitimizes itself within “institutional minds,” the biggest players on Wall Street are fighting for their claim. You heard that right. The rise of ETFs, which are exchange traded funds, is the culprit, and no investor is mad about it.
In fact, there’s a new horizon for larger profits.
Being the biggest tycoons in the financial market by far, Morgan Stanley and UBS are the key players.
Though other agencies have found their investment niche in crypto, these two seem to be competing directly with each other. Next week, the two behemoths will have their own BTC ETFs. However, we know what you might be thinking.
Trading ETFs is no longer big news.
Ten of the leading financial institutions around the globe are already offering them. Among these issuers are Fidelity, BlackRock and Grayscale. In total, the leading ETF providers have a market cap of $111 billion, which continues to rise.
Here’s a better look at the players trying their hand at crypto ETFs:
– Morgan Stanley
As a valued stock on the New York Stock Exchange, Morgan Stanley (MS) has a market capitalization of roughly $152.1 billion in USD. The assets it holds under management equals more than $1.19 trillion. However, it generates over $51 billion in revenue each year.
The investment firm caters to families, wealthy individuals, government agencies and medium to large businesses.
It ranks #65 on the Forbes 500 list and even offers stock trading. However, its trading services are ideal for large institutions with high-order flows and big transactions.
– UBS
“Innovative financial solutions” is the promise made by UBS, which stands for the Union Bank of Switzerland.
It’s no surprise that one of the largest investment banks operates out of the city of Zurich, being hailed as the financial capital of the world. This financial agency is currently managing $3.1 trillion in financial assets from individuals, businesses and government agencies.
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- Good quotes and low fees
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Sealing the Deal On “Institutional” Crypto
Seeing Bitcoin push to $75,000 brought the power of ETFs to everyone’s mind. That rush of value came in mid-January 2024 and ran all the way through to the end of March 2024.
Internal memos at Morgan Stanley confirm the plans, and no one refutes these allegations. The issue of both banks moving forward has to do with one waiting for the other to move first and vice versa.
Having a peculiar niche, the two banks want to convey security to its investors. If you also see the value of safety and regulation, then seek a secure platform. This 1inch exchange review will give you a head start over the market.
