2 hours ago
5
Key Takeaways
- Morgan Stanley filed ETH and SOL ETFs at a market-low 0.14% fee.
- The funds stake assets and return 95% of rewards to investors.
- Fidelity launched FYMXX, a money market fund for stablecoin reserves.
- FYMXX holds only GENIUS Act-permitted assets like short-term Treasuries.
- Wall Street is racing to own crypto’s infrastructure, not just trade it.
The industry has stopped betting on whether crypto survives and started racing to control the infrastructure that institutional crypto capital will flow through.
The Real Story: A Split Down Wall Street
The common thread connecting Morgan Stanley’s ultra-cheap crypto ETFs and Fidelity’s new stablecoin reserve fund is not that both firms like crypto. It is that the competition has moved past speculation entirely, toward owning the utility layer of digital finance. A clean split is emerging in how the biggest firms intend to win: some are building the gateway, the front-end throu...
English (US)