Bitcoin ETF Boom: Morgan Stanley and Giants Bet Big Amid Market Surge

May 17, 2024
Bitcoin ETF Boom: Morgan Stanley and Giants Bet Big Amid Market Surge
  • Bitcoin's surge leads to $135 million liquidation in crypto derivatives, signaling market volatility.

  • Morgan Stanley reveals holding $269.8 million in Bitcoin ETFs, with other major banks like BNB Paribas and JPMorgan also investing.

  • CME Group's potential entry into spot Bitcoin trading could challenge Coinbase's dominance in the US market.

  • Spot Bitcoin ETFs gain traction, attracting over $10 billion from 500 institutions in three months, reflecting safer investment avenues for traders.

  • QCP Capital predicts Bitcoin price could exceed its previous $74,000 peak, with a two-week high of $303 million inflows into US spot Bitcoin ETFs indicating renewed institutional confidence.

  • Analysts like Rekt Capital, Peter Brandt, and Michael van de Poppe offer optimistic views on Bitcoin's trajectory and stability.

  • Over 900 firms report owning spot Bitcoin ETFs, with professional investors holding 7-10% of total investments, countering the notion of ETFs being predominantly retail-driven.

  • UBS's acquisition of Bitcoin ETFs highlights the growing acceptance of cryptocurrency in traditional finance and may inspire further institutional crypto adoption.

Summary based on 175 sources


Get a daily email with more World News stories

More Stories