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Morgan Stanley files Bitcoin trust as BTC surge lifts crypto market
Morgan Stanley files for a Bitcoin trust, Kraken secures a Fed master account, and BTC pushes past $72K as altcoins rally.
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Wall Street isn't just buying Bitcoin anymore. It's building the pipes.
Morgan Stanley wants its own spot ETF. Kraken is settling dollars through the Fed. The line between traditional finance and crypto is getting harder to find.
And at the same time, Bitcoin has pushed back above $72K, lifting the broader crypto market.
Today's stories share a theme: the infrastructure era has arrived.
Morgan Stanley becomes first major Wall Street bank to file for a spot Bitcoin ETF
Morgan Stanley filed an S-1 with the SEC outlining its proposed Morgan Stanley Bitcoin Trust.
The fund plans to use Coinbase Custody and Bank of New York Mellon to safeguard its Bitcoin holdings.
BNY Mellon would also serve as administrator, transfer agent, and cash custodian for the trust.
Markets
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Bitcoin hits one-month high as ETF demand and regulatory optimism fuel broad rally
Bitcoin surged to its highest level in a month as buyers piled back in. BTC ETF inflows topped $680M on the day.
Whispers about the Clarity Act nearing passage lifted altcoins across the board. BTC traded near $73K, ETH climbed above $2,100, SOL pushed past $92, and XRP rose toward $1.44.
Kraken secures Fed master account for direct dollar settlements
Kraken secured a Federal Reserve master account, giving its banking unit direct access to the Fed’s core payment rails.
The account allows Kraken Financial to connect directly to Fedwire, the interbank payment network used by banks to move trillions of dollars each day.
The access comes with limits. Kraken will not earn interest on reserves or access the Fed’s emergency lending facilities.
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