Morgan Stanley’s wealth management clients may soon have one more option to gain exposure to Bitcoin. NYDIG and FS Investments have filed with the U.S. Securities and Exchange Commission (SEC) for a pooled investment fund aimed at the bank’s clients.

Bank of England governor Andrew Bailey has revealed he does not see cryptocurrencies such as bitcoin as money, but added stablecoins could become “systemic” in the financial system.

Coinbase has announced it’s listing three new cryptoassets on its Pro platform: Shiba Inu (SHIB), Keep Network (KEEP), and Chiliz (CHZ). After the announcement was made, all three cryptoassets saw their prices soar.

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Top stories in the Crypto Roundup today:

• Morgan Stanley To Expand Bitcoin Fund Options
• Bank of England Governor Says Bitcoin is ‘Not Money’
• Coinbase Pro Lists Dogecoin Rival Shiba Inu
• Sponsored: Crypto.com - The World’s Fastest Growing Crypto App

Morgan Stanley To Expand Bitcoin Fund Options

Morgan Stanley’s wealth management clients may soon have one more option to gain exposure to Bitcoin. NYDIG and FS Investments have filed with the U.S. Securities and Exchange Commission (SEC) for a pooled investment fund aimed at the bank’s clients.

In March, Morgan Stanley became the first big American bank to offer its clients exposure to the cryptocurrency space through a trio of funds. These funds allow investors to gain exposure to bitcoin without buying it directly or managing a wallet’s keys.

According to the filing, Morgan Stanley will “receive certain placement and servicing fees with respect to clients it refers to the issuer, as disclosed to the applicable clients.”

The first funds Morgan Stanley started offering were the FS NYDIG Select Fund, the Galaxy Bitcoin Fund LP, and the Galaxy Institutional Bitcoin Fund LP. The minimum investment for the first two is $25,000, while for the Galaxy Institutional Bitcoin Fund it’s $5 million.

Bank of England Governor Says Bitcoin is ‘Not Money’

Bank of England governor Andrew Bailey has revealed he does not see cryptocurrencies such as bitcoin as money, but added stablecoins could become “systemic” in the financial system.

Speaking during the TheCityUK’s annual conference, Bailey warned there would be “tough love” for fintech firms in the country, before adding these would help it experience “a robust form of innovation.” He said:

“They [stablecoins] are distinct from cryptoassets such as Bitcoin, which have no backing and thus no anchor to provide stability of value. A cryptoasset is not money (hence the term cryptocurrency is misleading) and has no intrinsic value because it has no backing.

The Bank of England governor then said large technology platforms could issue stablecoins while the central bank kept an eye on them.

Coinbase Pro Lists Dogecoin Rival Shiba Inu

Coinbase has announced it’s listing three new cryptoassets on its Pro platform: Shiba Inu (SHIB), Keep Network (KEEP), and Chiliz (CHZ). After the announcement was made, all three cryptoassets saw their prices soar.

It’s notable the firm is listing Shiba Inu, a token akin to the meme cryptocurrency Dogecoin, little more than a month after the cryptocurrency was created. It’s in stark contrast to its addition of DOGE, which was only recently added despite being around for years.

The move reflects a sea of change in the exchange’s approach that came a month and a half after it went public on Nasdaq under the ticker COIN. Its stock price is significantly below its initial trading price.  

Daily Movers – CHZ, SXP, KAVA

Several tokens are leading the charge in the last 24-hour period. Some of these are well-known cryptocurrencies with more liquid trading pairs, so we’ll be focusing on these over low-cap cryptos that may have higher percentage changes.

Chiliz (CHZ) - Chiliz is a fintech platform for tokenizing sports teams. Its currency and blockchain technology power products for casual, mainstream consumers. Socios.com - a tokenized fan engagement solution for sports - is the first platform powered by Chiliz.

Swipe (SXP) - Swipe will create a platform that will be accessible to users worldwide via an Apple or Android device which enables them to buy, sell, or pay with cryptocurrencies at millions of locations. The plan to execute this vision starts with creating a highly-secure bank-grade digital Wallet infrastructure that will host multiple blockchain systems tied to a traditional debit card.

Kava (KAVA) - Kava Protocol is the set of rules and behaviors built into the Kava Chain that enables advanced Decentralized Finance (DeFi) functionality like permissionless borrowing and lending.

Crypto.com - The World’s Fastest Growing Crypto App

 

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