Morgan Stanley Sets Bitcoin ETF Fee at Ultra-Low 0.14%

Investment bank Morgan Stanley is seeking to launch its spot Bitcoin exchange-traded fund at a 0.14% fee, which would make it the cheapest in the US market and potentially force rivals to cut fees to stay competitive. The 0.14% fee, proposed in Morgan Stanley’s latest S-1 registration statement on Friday, would be one basis point…

Stablecoins Will Be Crypto’s “ChatGPT Moment,” Says Ripple

Ripple CEO Brad Garlinghouse said stablecoins will be the crypto sector’s “ChatGPT moment” for businesses in search of faster, more efficient payments, and that many companies are already discussing and strategizing how to implement stablecoins into their operations. “You have boards of directors and CEOs of companies, whether it’s Fortune 500 or Fortune 2000, they’re…

California Governor Newsom Signs Prediction Market Insider Trading Order

California Governor Gavin Newsom signed an executive order on Friday, expanding rules to curb public servants and those close to them from benefiting from insider trading on prediction markets tied to political or economic events they can influence or are privy to. The order prohibits “gubernatorial appointees,” public officials appointed to office by the governor…

Morgan Stanley enters bitcoin ETF race with market-leading low fee

Morgan Stanley plans to price its proposed spot bitcoin BTC$66,337.52 exchange-traded fund (ETF) at 14 basis points, a level just below current low-cost options for similar products, according to an amended filing with the U.S. Securities and Exchange Commission (SEC). The move could set off a new round of fee competition among existing funds. The…

Bitcoin Traders Bet On Sub-$66K BTC In April Due To Rising Fear

Key takeaways: Bearish sentiment is rising as Bitcoin options professional traders lose confidence that the $66,000 level will hold for long. The exit of David Sacks as the Crypto and AI czar and a lack of a clear US Strategic Bitcoin Reserve plan added to investors’ doubts. Bitcoin (BTC) fell to $65,530 on Friday, an…

Circle’s CRCL Stock Hints at 25% Gains as Market Overreacts to CLARITY Act

Circle Internet Group’s CRCL stock is showing signs of a potential 25% rebound after the market may have reacted too aggressively to fears surrounding draft CLARITY Act language tied to stablecoin yield restrictions. CRCL daily price chart. Source: TradingView Key takeaways: CRCL is attempting to stabilize above a major support confluence near $100.75. Analysts say…

Bitcoin Traders Bet On Sub-$66K BTC In April Due To Rising Fear

Key takeaways: Bearish sentiment is rising as Bitcoin options professional traders lose confidence that the $66,000 level will hold for long. The exit of David Sacks as the Crypto and AI czar and a lack of a clear US Strategic Bitcoin Reserve plan added to investors’ doubts. Bitcoin (BTC) fell to $65,530 on Friday, an…

ICE Adds $600M to Polymarket Investment Despite US Regulatory Scrutiny

Intercontinental Exchange (ICE), the parent of the New York Stock Exchange (NYSE), said Friday it completed a new $600 million direct cash investment in Polymarket, deepening its bet on prediction markets as a new area of growth for exchange operators. The company also said it expects to purchase up to $40 million of Polymarket securities…

Ethereum Loses $2K as Traders Expect a Deeper Correction in ETH Price

Ether’s (ETH) drop below the $2,000 on Friday put it at risk of a deeper correction in the coming weeks or months. Key takeaways: Ether’s price shows structural weakness as it fails to hold above the $2,000 psychological support. Analysts say ETH price may drop further toward the $1,750-$1,850 support zone. Ether’s demand stays negative,…

US Lawmakers Publish Competing Crypto Tax Bill Proposal

US Representatives Max Miller and Steven Horsford published a discussion draft bill on Thursday titled the ‘‘Digital Asset Protection, Accountability, Regulation, Innovation, Taxation, and Yields Act’’ or the ‘‘Digital Asset PARITY Act,” to overhaul the tax code for digital assets. The Digital Asset PARITY Act seeks to overhaul the Internal Revenue Code of 1986 by…