Goldman Sachs Submits Bitcoin Income ETF Application Amid Morgan Stanley's Tokenization Push

Goldman Sachs has filed for a bitcoin income exchange-traded fund (ETF) as the bank deepens its involvement in cryptocurrency markets. This move coincides with Morgan Stanley's announcement that tokenization represents the next major step for its wealth management business, signaling increased institutional adoption of digital assets.

Tether introduced a new crypto wallet designed to bring stablecoin and bitcoin payments directly to users, expanding access to digital currency transactions.

Meanwhile, Drift secured $148 million in funding from Tether and other partners and replaced Circle stablecoin with USDT following a significant exploit. On the technology front, VerifiedX launched a privacy layer for Bitcoin to meet growing institutional demand for confidentiality.

DoubleZero rolled out high-speed data services for Solana, integrating Wall Street trading technology into the crypto ecosystem.

Market data showed mixed performance among major cryptocurrencies. Bitcoin slid below $74,000 after failing to break higher, with funding rates hitting their most negative levels since 2023, which some interpret as a potential market bottom. 1% from the previous day.

41% change. The UK has introduced new crypto regulations that could unexpectedly affect some firms within a 24-hour window, adding regulatory pressure to the evolving market. 14% fee and attracted $100 million in its first week, reflecting growing investor interest in cost-efficient crypto investment vehicles.

“Tokenization is the next major step for our wealth business as we push deeper into digital assets." — Morgan Stanley CFO The developments highlight a broader institutional push into crypto products and infrastructure amid fluctuating market conditions and evolving regulatory frameworks.”