The two banks are actively competing to become the first major banks to offer clients exposure to spot Bitcoin ETFs, according to people familiar with the matter.
Morgan Stanley hopes to be the first major bank to offer clients full access to a spot BTC ETF and plans to steal a march on UBS by making the announcement a few days ahead.
Arch Public co-founder Andrew Parish shared the development on social media and revealed that UBS plans to announce the launch of the ETF product during the week of April 8.
It is reported that UBS's Private Wealth Management (PWM) has partially implemented the introduction of Bitcoin ETFs. Technically, these ETFs can be provided to individual clients with assets exceeding US$10 million "without approval."
Current discussions revolve around full approval from institutional platforms, which would allow financial advisors to actively include Bitcoin ETFs in client portfolios.
Traditional finance is on the way
The competition highlights the growing acceptance of cryptocurrencies in mainstream financial markets and marks a major shift in incorporating digital assets into traditional investment portfolios.
Demand for spot Bitcoin ETFs pushed Bitcoin to an all-time high on March 14. These ETFs have achieved significant success in the U.S. market, quickly attracting more than $12 billion in inflows and generating more than $150 billion in trading volume in early April.
Although ETF activity has slowed recently, the expected entry of Morgan Stanley and UBS could reignite interest and activity in the market.
At the same time, industry insiders previously revealed that major financial institutions have been conducting due diligence and plan to offer Bitcoin ETF investments to customers starting in the second quarter.
"A legal chicken game"
On the other hand, Eric Balchunas, senior ETF analyst at Bloomberg Intelligence, said sources told him that most banks have not yet included Bitcoin ETFs in their product offerings and are in a “wait-and-see mode.”
He described the situation as a "compliance chicken game" where each bank is waiting for the others to act first. This will provide the necessary regulatory and operational safeguards for others to follow suit.
While most banks are cautious overall, UBS has taken the initial step of allowing its private wealth management clients to use these ETFs under certain restrictions. The move shows that UBS is taking a phased approach to gradually roll out a wider range of services, including advisory services for clients to include these ETFs in their portfolios.
As the financial industry prepares for this potential shift, the timing and impact of Morgan Stanley and UBS’s moves in the spot BTC ETF market remain highly anticipated. Their entry could redefine investment strategies and further integrate digital assets into the economic mainstream. #比特币ETF #数字资产投资
