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Why U.S. Banks Still Can’t Hold Bitcoin Despite Surging Demand
A newly launched bitcoin exchange-traded product from Morgan Stanley amassed more than $100 million in its opening week, attracting capital exclusively from clients making independent investment decisions. The offering, known as MSBT, represents what the firm calls the first bitcoin-backed ETP launched by a U.S.-chartered banking institution. Since its recent debut, the product has experienced robust early adoption entirely through the bank’s self-directed wealth management platform. During remarks at the Bitcoin Conference in Las Vegas, Amy Oldenburg, who leads digital asset strategy at Morgan Stanley, shared ... (full story)
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