Bitcoin reached a fresh record over the weekend, rising to $125,195 early Sunday, as investors leaned into a mix of risk appetite and macro uncertainty. 

Morgan Stanley’s Global Investment Committee is recommending investors allocate 2% to 4% of their portfolios to crypto, depending on risk appetite.

Coinbase has applied for a federal trust charter with the Office of the Comptroller of the Currency, aiming to expand its crypto financial services under a single national regulator.

Top stories in the Crypto Roundup today:

• Bitcoin Hits New Record Above $125K as ‘Uptober’ Momentum Builds
• Morgan Stanley Advises 2–4% Crypto Allocation in Client Portfolios
• Coinbase Seeks Federal Trust Charter to Expand Crypto Services Nationwide

Bitcoin Hits New Record Above $125K as ‘Uptober’ Momentum Builds

Bitcoin reached a fresh record over the weekend, rising to $125,195 early Sunday, as investors leaned into a mix of risk appetite and macro uncertainty. 

The price surge builds on October’s reputation for strong crypto performance, dubbed “Uptober” by traders, and growing inflows into spot bitcoin exchange-traded funds.

The rally comes as U.S. equities also climbed to record highs despite a federal government shutdown, which took effect Wednesday. Analysts say some investors are betting on bitcoin as a hedge against perceived dollar weakness, often referred to as the “debasement trade.” 

Bitcoin has now gained more than 30% in 2025. It previously hit a high of $124,514 in August. October tends to be a strong month for the token. In nine of the past 10 years, bitcoin ended the month higher than it began.

Morgan Stanley Advises 2–4% Crypto Allocation in Client Portfolios

Morgan Stanley’s Global Investment Committee is recommending investors allocate 2% to 4% of their portfolios to crypto, depending on risk appetite.

 The guidance comes as part of the bank’s broader strategic asset framework for wealth clients.

The committee refers to bitcoin as “digital gold,” citing its scarcity and potential role in a diversified portfolio. Conservative investors are advised to avoid crypto, while those in growth-oriented strategies are encouraged to consider it in small amounts.

The GIC recommends gaining exposure through exchange-traded products and rebalancing holdings quarterly or annually. 

Coinbase Seeks Federal Trust Charter to Expand Crypto Services Nationwide

Coinbase has applied for a federal trust charter with the Office of the Comptroller of the Currency, aiming to expand its crypto financial services under a single national regulator.

The charter would give the exchange flexibility to roll out services like payments and settlements across the U.S. without needing separate licenses in each state. 

Currently, Coinbase runs its main custody business under a New York state trust company, regulated by the state’s BitLicense regime.

Greg Tusar, Coinbase’s VP of institutional products, said in a statement that the company has “no intention of becoming a bank” but believes federal oversight will help it innovate while staying compliant.

Coinbase joins other crypto firms, including Circle and Paxos, in pursuing federal-level regulatory clarity as the industry seeks more scalable and standardized frameworks.

State of the Crypto by Top Tier Exchange Volume

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