Leak Reveals That Another Huge Earthquake in Wall Street Bitcoin ETF Prices Could Be About to Hit the Cryptocurrency

Bitcoin has been trading sideways since the supply halving last week – with billionaire Mark Cuban issuing a stark warning.

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Bitcoin's price, currently bouncing around $64,000 per bitcoin, has fallen from an all-time high of nearly $74,000 last month (although some believe it's headed toward a game-changing $35 trillion).

Now, after a senior Federal Reserve official issued an “incredible” response when asked when the Fed would put bitcoin on its balance sheet, a major Wall Street bank leak has fueled speculation that bitcoin could suffer another ETF earthquake. (ETF). .

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More from Forbes' 'Mega Catastrophe' – Congress Just Introduced a Game-Changing Bill That Could Blow Up the Price of Bitcoin and the Cryptocurrency Market By Billy Bambrough

BlackRock's Spot Bitcoin ETF takes the lead as the largest fleet of new Bitcoin funds on… [+] Wall Street, helping to fuel the Bitcoin price boom.

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Morgan Stanley could give the green light to its 15,000 brokers to recommend a fleet of newly approved spot bitcoin ETFs, AdvisorHub reported, citing anonymous sources.

“We're going to make sure we're very careful about this,” a Morgan Stanley executive told AdvisorHub, without giving a time frame for the decision. “We'll make sure everyone has access to it. We just want to do it in a controlled way.”

Currently, bank clients are required to initiate discussions about spot bitcoin ETFs with their advisors.

Morgan Stanley is reportedly looking to establish risk management requirements for required purchases of spot bitcoin ETFs, including risk tolerance, allocation limits, and trading frequency.

“Our clients are not betting the farm on bitcoin,” another Morgan Stanley executive reportedly told AdvisorHub. “For most of these people, it's very interesting, so they invest a little money.”

The long-awaited arrival of spot bitcoin ETFs on Wall Street has unleashed a deluge of depleted demand. The largest of the new funds, BlackRock's BlackRock IBIT, has raised $15 billion in the three months since its debut, and recently achieved a 71-day streak of inflows.

Earlier this month, an influential but anonymous Bitcoin commentator on

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More from Forbes Bitcoin Is Suddenly Poised for a $35 Trillion Earthquake By Billy Bambrough

The price of Bitcoin surpassed its all-time high this year, rising to more than $70,000 per… [+] Bitcoin on the back of the debut of a fleet of Bitcoin ETFs on Wall Street.

Forbes digital assets

Last month, Matt Hogan, chief investment officer at Bitwise, the issuer of Bitcoin ETFs, predicted that telecommunications offices opening up Bitcoin ETFs to retail investors, hedge funds and independent financial advisors would lead to a “larger” wave of strikes. Bitcoin price from ETF approvals in 2019. January.

The fleet of new Bitcoin ETFs on Wall Street came ahead of the fourth halving of Bitcoin supplies last week.

“The supply of Bitcoin is being cut at a time when institutions are buying the asset in large quantities. The impact of the halving is not immediate, but it does provide, in the short term, an incentive to reignite retail interest, which we have done so far,” said Josh Gilbert, market analyst at Trading platform eToro, in an email comments: “Let's really see in 2024 compared to previous cycles.”

“After the halving, only 450 BTC are being mined each day, while institutions have collected 835,000 BTC since inception. If we continue to see interest in our Bitcoin ETFs since the beginning of the year, there is a clear supply/demand imbalance.”

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