Cryptocurrencies are bracing for a massive earthquake in BlackRock and Wall Street ETFs after Bitcoin crashes to $60,000, a leak has revealed.

Bitcoin has been on the rise again this year, returning to the spotlight thanks to its long-awaited adoption by Wall Street and Donald Trump's willingness to drop a Bitcoin bombshell.

Subscribe now to Forbes' Crypto & Blockchain Advisor and discover the “Top Blockchain Projects That Are Expected to Gain Over 1000%” in the Wake of the Bitcoin Halving!

Bitcoin surpassed its all-time high in 2021 in March, but has since been trending lower, falling below $60,000 per bitcoin on Saturday, as fears grow of a major stock market crash and devastating recession in the United States, with the FBI issuing a dire warning about cryptocurrencies.

Now, after Shark Tank billionaire Mark Cuban made a “crazy” prediction about Bitcoin’s price, a leak has revealed that Wall Street giant Morgan Stanley is preparing to trigger a Bitcoin ETF earthquake.

Subscribe now to the free CryptoCodex newsletter – a daily five-minute newsletter for traders, investors and crypto enthusiasts that will keep you informed and up to date on the Bitcoin and crypto bull market.

Forbes warns of 'malicious spiral' after Donald Trump proposes 'massive, radical' plan to pay off $35 trillion in US national debt By Billy Bambrough

BlackRock and its crypto-turned CEO Larry Fink are among the main reasons behind Bitcoin's surge… [+] This year's rebound – with another earthquake on the doorstep after Bitcoin crashed to $60,000.

AFP via Getty Images

Morgan Stanley will this week allow its team of 15,000 financial advisers to offer bitcoin exchange-traded funds to some clients, CNBC reported, citing a leak from two anonymous sources.

However, Morgan Stanley has imposed a $1.5 million net worth cap, a stated desire to make speculative investments and take aggressive risks regarding who it can market its bitcoin ETFs to, according to CNBC sources. It will also only offer the two largest new bitcoin ETFs from BlackRock and Fidelity.

Despite the huge success of the Bitcoin ETFs that debuted on Wall Street in January, banks including Goldman Sachs, JPMorgan Chase, Bank of America and Wells Fargo have all refrained from offering them to clients.

Earlier this year, unconfirmed reports suggested that Morgan Stanley wanted to “be the first investment firm to fully approve a bitcoin ETF,” while the chief investment officer of ETF issuer Bitwise predicted that the ETFs opening up to retail investors, hedge funds, and independent financial advisors would lead to a “bigger” wave hitting the bitcoin price than the January ETF approvals.

Bitcoin exchange-traded funds have surged to $57.2 billion in total net assets since their launch in January, according to data from SoSoValue, with net inflows of $17.5 billion. BlackRock’s IBIT fund now exceeds $21.5 billion in net assets, making it one of the fastest-growing ETFs on Wall Street ever.

BlackRock CEO Larry Fink admitted last month that he was wrong about Bitcoin and called it a “legitimate” financial instrument after calling Bitcoin an “indicator for money laundering” in 2017.

Subscribe Now to CryptoCodex—A Free Daily Newsletter for Cryptocurrency Lovers

Forbes: ‘This is Huge’ – Billionaire Mark Cuban Makes ‘Amazing’ Prediction About Bitcoin, Cryptocurrencies Amid Price Collapse By Billy Bambrough

Bitcoin's price surge this year has been driven by huge interest in a fleet of new spot bitcoins… [+] Exchange-traded funds (ETFs), led by BlackRock's IBIT Spot Bitcoin Fund.

Forbes Digital Assets

Traders are currently facing reduced liquidity in the market, as Bitcoin price struggles to maintain the momentum it built in the first half of 2024.

“We are seeing a lack of liquidity across many assets, and ‘summer’ could be one of the reasons behind that,” Jag Conner, head of derivatives at Bitcoin and cryptocurrency exchange Bitfinex, said in emailed comments.

“We are currently seeing large buy walls building at lower levels on many altcoins, and we also expect Bitcoin to range between $61k to $70k, which will provide an accumulation area.”

What Are The Main Benefits Of Comparing Car Insurance Quotes Online

LOS ANGELES, CA / ACCESSWIRE / June 24, 2020, / Compare-autoinsurance.Org has launched a new blog post that presents the main benefits of comparing multiple car insurance quotes. For more info and free online quotes, please visit https://compare-autoinsurance.Org/the-advantages-of-comparing-prices-with-car-insurance-quotes-online/ The modern society has numerous technological advantages. One important advantage is the speed at which information is sent and received. With the help of the internet, the shopping habits of many persons have drastically changed. The car insurance industry hasn't remained untouched by these changes. On the internet, drivers can compare insurance prices and find out which sellers have the best offers. View photos The advantages of comparing online car insurance quotes are the following: Online quotes can be obtained from anywhere and at any time. Unlike physical insurance agencies, websites don't have a specific schedule and they are available at any time. Drivers that have busy working schedules, can compare quotes from anywhere and at any time, even at midnight. Multiple choices. Almost all insurance providers, no matter if they are well-known brands or just local insurers, have an online presence. Online quotes will allow policyholders the chance to discover multiple insurance companies and check their prices. Drivers are no longer required to get quotes from just a few known insurance companies. Also, local and regional insurers can provide lower insurance rates for the same services. Accurate insurance estimates. Online quotes can only be accurate if the customers provide accurate and real info about their car models and driving history. Lying about past driving incidents can make the price estimates to be lower, but when dealing with an insurance company lying to them is useless. Usually, insurance companies will do research about a potential customer before granting him coverage. Online quotes can be sorted easily. Although drivers are recommended to not choose a policy just based on its price, drivers can easily sort quotes by insurance price. Using brokerage websites will allow drivers to get quotes from multiple insurers, thus making the comparison faster and easier. For additional info, money-saving tips, and free car insurance quotes, visit https://compare-autoinsurance.Org/ Compare-autoinsurance.Org is an online provider of life, home, health, and auto insurance quotes. This website is unique because it does not simply stick to one kind of insurance provider, but brings the clients the best deals from many different online insurance carriers. In this way, clients have access to offers from multiple carriers all in one place: this website. On this site, customers have access to quotes for insurance plans from various agencies, such as local or nationwide agencies, brand names insurance companies, etc. "Online quotes can easily help drivers obtain better car insurance deals. All they have to do is to complete an online form with accurate and real info, then compare prices", said Russell Rabichev, Marketing Director of Internet Marketing Company. CONTACT: Company Name: Internet Marketing CompanyPerson for contact Name: Gurgu CPhone Number: (818) 359-3898Email: [email protected]: https://compare-autoinsurance.Org/ SOURCE: Compare-autoinsurance.Org View source version on accesswire.Com:https://www.Accesswire.Com/595055/What-Are-The-Main-Benefits-Of-Comparing-Car-Insurance-Quotes-Online View photos