Morgan Stanley vies to outpace UBS in the approval of a Bitcoin ETF, according to internal sources.
A cryptocurrency information specialist, AP_Abacus, describes the discussions surrounding the listing of a Bitcoin ETF by major banks as a competition.
The current situation is a waiting game in terms of compliance, with a potential simultaneous announcement from both banks.
The introduction of Bitcoin Spot ETFs in the United States has intensified the rivalry between investment banks, each seeking to be the first to integrate these products. Morgan Stanley aims to surpass UBS and become the first major bank to officially approve a BTC ETF, according to Andrew’s revelations on X on April 3.
The preparations of Morgan Stanley to assert itself in the ETF race
Based on internal notes from Morgan Stanley, Andrew states that the bank “could announce a few days before” its foray into Bitcoin Spot ETFs. He also points out that discussions about the addition of BTC ETFs by major global banks resemble a competition.
Eric Balchunas, an ETF expert at Bloomberg, contributed to the discussion on X, stating that neither bank, Morgan Stanley or UBS, has yet added Bitcoin ETFs, according to a “reliable source.”
The anticipated competitive movements
Eric Balchunas describes the situation as a mutual compliance waiting game, anticipating a simultaneous move when one of them takes the first step. This anticipation comes amidst intense speculation after Andrew reported that UBS plans to add Bitcoin Spot ETFs to its platform between April 8 and 12.
