Crypto · DL News
If Wall Street’s embrace of crypto has happened in fits and starts, this week that all changed
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Not only are some of the bluest-blooded banks and financial institutions diving into digital assets, but they’re iterating products for their more conservative customers.
Key facts
- On Thursday, Morgan Stanley revealed that its week-old Bitcoin ETF had already hit $100 million in its first week — a feat chalked up to it being the market’s cheapest ETF at 0.14%
- What we hear from many of our clients is that they have 98% of their wealth here at Schwab and they might hold a percent or 2% at some digital native firm to hold their crypto,” CEO Rick Wurster
- Goldman Sachs, the $3.6 trillion asset management firm, finally filed a Bitcoin exchange-traded fund
- Wall Street has arrived,” Nate Geraci, president of NovaDius Wealth Management, said on Friday
Summary
Wall Street is coming for crypto. If Wall Street’s embrace of crypto has happened in fits and starts, this week that all changed. Goldman Sachs, the $3.6 trillion asset management firm, finally filed a Bitcoin exchange-traded fund. Instead, the Goldman Sachs Bitcoin Premium Income ETF is comprised mostly of other spot Bitcoin ETFs.