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Major platforms race for BTC ETFs, speculation on Ethereum’s future, and Uniswap's volume spike

The Hash Insider

April began with bitcoin (BTC) initially dropping below $65,000 before recovering to a price range closer to its closing level in March. Bitcoin fell 2.4%, while ether (ETH) decreased 7.2%. The Nasdaq Crypto Index (NCI) declined 3.8%.

 

 

Morgan Stanley wants to become first major platform with bitcoin ETFs

Morgan Stanley and UBS are racing to be the first major US wirehouse with bitcoin ETFs on its platform, according to a recent article which suggests the firms are caught in a regulatory and strategic "holding pattern" as they await the other's move. This competition highlights the growing interest and acceptance of crypto investment products from traditional financial institutions.​

JPMorgan says ether could avoid designation as a security

The report suggests improving network decentralization could impact regulatory decisions around ETH being potentially labeled a security. This perspective underscores the broader acceptance and integration of Ethereum into traditional markets.

Uniswap’s $2 trillion volume surpasses Australia’s GDP

Uniswap’s trading volume milestone is a testament to the decentralized exchange’s impact on the financial ecosystem. It’s noteworthy that Uniswap's trading volume surpasses the GDP of not only Australia but also large economies like Brazil and South Korea, signaling a potential advance toward the widespread acceptance of DeFi.

From Hashdex

Our April letter explores bitcoin's role in the current bull market and includes some of our recently released research.

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