Morgan Stanley and UBS are working to become the first major U.S. banks to offer a spot Bitcoin ETFs to all clients, according to social media reports. With $1.26 trillion and $1.1 trillion in assets under management respectively, Morgan Stanley and UBS are two of the largest wealth managers worldwide. Both are vying to fully…
In a fireside chat today at the Bitcoin Investor Day by Reflexivity Research, Robert Mitchnick, the Head of Digital Assets at BlackRock, shared insights into the asset manager’s approach to Bitcoin, cryptocurrencies and the future of the crypto market. Mitchnick emphasized that Bitcoin remains, overwhelmingly, the top priority for BlackRock’s clients, with minimal interest in other…
Torsten Asmus Dear Clients and Friends: As 2023 draws to a close, we find ourselves reflecting on a year that vividly embodied the German phrase “Sturm und Drang,” which translates to “Storm and Stress.” Although the term is now used to describe turmoil generically, it originally identified a late 18th-century movement in German literature and…
Bank of America Corp.’s Merrill Lynch and Wells Fargo & Co.’s brokerage unit have begun offering access to exchange-traded funds (ETFs) that directly invest in Bitcoin, according to Bloomberg Law. JUST IN: Wells Fargo and Bank of America’s Merrill are offering spot #Bitcoin ETFs to wealth clients 🚀 pic.twitter.com/Lr3oD5XgrR — Bitcoin Magazine (@BitcoinMagazine) February 29,…
Carson Group, a significant $30 billion registered investment adviser (RIA) platform, has recently announced its approval to offer four spot Bitcoin exchange-traded funds (ETFs) to its clients, according to a Bloomberg report. Out of the recent batch of US-listed spot Bitcoin ETFs, Carson Group has greenlit BlackRock’s iShares Bitcoin Trust, Fidelity Wise Origin Bitcoin Fund, Bitwise…
Celsius also advised customers to make use of its mobile app for the withdrawal, stating the app would only be available for a limited time. Bankrupt crypto lender Celsius Network has announced that some clients with custody assets can now make withdrawals from the platform. Celsius which previously stopped withdrawals on its platform declared Chapter…
Santander has made this move while most big banks limit their exposure to decentralized blockchains and the cryptocurrencies running on them. Santander Private Banking International has announced plans to allow its high-net-worth Swiss clients a chance to trade crypto assets. The bank will offer these clients a chance to buy, sell, and hold two major…
The launch of the global AI advisory services comes after Visa recently made a significant investment in the field of AI. Global payments giant Visa Inc (NYSE: V) has introduced its new global artificial intelligence (AI) advisory service to assist clients in harnessing the power of AI solutions for their businesses and understanding the potential…
HSBC, which is one of the largest banks in the world, revealed that for now, its custody plans involve “tokenized securities issued on third-party platforms.” HSBC Holdings (LSE: HSBA), in partnership with Ripple Labs subsidiary Metaco, has announced plans to launch a digital assets custody service for institutional clients. The service will offer custody for…
The Swiss banking industry has been incredibly receptive to crypto with many local banks adding cryptocurrency services to their offerings. Swiss bank St.Galler Kantonalbank (SGKB) has launched Bitcoin and Ether trading with plans to add more cryptocurrencies in the future based on client feedback. The cryptocurrency service is made possible by a partnership with crypto-focused…
In a move that showcases the expanding demand for Bitcoin, St. Galler Kantonalbank (SGKB) has become the latest major Swiss bank to offer Bitcoin and crypto buying services. Announced Thursday, SGKB partnered with SEBA Bank to offer its retail customers cryptocurrency trading and custody services, a venture that marks another step in the expanding world…
BlockFi revealed that it has emerged from bankruptcy court, having received approval for its reorganization plan from all relevant stakeholders. Nearly 11 months after it first declared bankruptcy, the crypto lender BlockFi has now officially begun the process of winding down its operations. In line with this, the company has asked its wallet users to…
Larry Fink’s comment reveals BlackRock’s strong interest in crypto following the company’s application for a spot Bitcoin ETF. The Chief Executive Officer of asset management giant BlackRock Inc (NYSE: BLK) recently said there is “the need for crypto” among the company’s many clients. Fink revealed this in a Monday interview on Fox Business. BlackRock CEO Believes Clients…
This AI system is designed to alleviate the increasing compliance burden and complexity faced by businesses in a global context. PricewaterhouseCoopers LLP (PwC), one of the world’s leading accounting and consulting firms, has partnered with OpenAI to integrate Artificial Intelligence (AI) into its advisory services. This innovative collaboration marks a significant milestone as PwC becomes…
A foray into traditional finance by Kraken would put the exchange in direct competition with US-based trading platform Robinhood. Cryptocurrency exchange Kraken reportedly plans to begin offering trading services for exchange-traded funds (ETFs) and US-listed stocks. A September 27 report by Bloomberg stated that the exchange plans to launch its trading services in the United…
Receive free Singapore updates We’ll send you a myFT Daily Digest email rounding up the latest Singapore news every morning. Banks in Singapore are stepping up scrutiny of customers from a range of countries including China and intensifying efforts to identify the sources of wealth as the city-state reels from a ballooning S$2.4bn (US$1.8bn) money-laundering…
The new AI chatbot will allow Morgan Stanley cater more effectively to its growing wealth division and the teeming clients there. American financial services company Morgan Stanley is looking to introduce an artificial intelligence (AI) chatbot in interactions with its wealthy clients. Morgan Stanley developed the chatbot in collaboration with OpenAI, the company behind ChatGPT. Both Morgan Stanley and…
In addition to the failed Lend program, Coinbase has attempted other lending services in the past. Coinbase has announced that it is working on a crypto lending service for institutional clients in the United States. A September 1 filing with the US Securities and Exchange Commission (SEC) shows that the company has already raised $57…
A DoorDash spokesperson has revealed that the company will continue to seek ways to perfect the AI service. DoorDash, a food delivery service app, has launched an AI-powered answering service for its restaurant clients. According to an August 28 announcement, the new service will see customers get on the phone with AI bots instead of…
Justin Sullivan Diversify your clients I’d like to reiterate my previous article’s buy rating for Bank of America (NYSE:BAC) and examine why Warren Buffett and Charlie Munger still hold the company as the top bank holding at Berkshire Hathaway (BRK.B)(BRK.A). They have a great diversification of clients and account types, with under 50% of the…