Core Insights - Morgan Stanley has partnered with Zerohash to allow E*TRADE clients to trade popular cryptocurrencies starting in the first half of 2026 [1][7] - Initial offerings will include Bitcoin, Ethereum, and Solana, with plans for a comprehensive wallet solution in the future [2][7] - The firm is developing an asset-allocation strategy for cryptocurrencies, with portfolio weights varying based on client objectives [3] Company Strategy - Morgan Stanley aims to integrate digitized assets, traditional assets, and cryptocurrencies into a unified ecosystem for clients [4] - The initiative is expected to enhance revenue through trading spreads, advisory fees, and future services like custody and tokenization [4][7] - The firm recognizes the opportunity to simplify the user experience for clients navigating the traditional finance and decentralized finance divide [4] Competitive Landscape - Competitors like Robinhood and Charles Schwab are also expanding their cryptocurrency offerings, with Robinhood generating significant revenue from its crypto business [5] - Schwab plans to introduce spot cryptocurrency trading by next year, indicating a competitive environment for Morgan Stanley [5] Performance Metrics - Over the past six months, Morgan Stanley's shares have increased by 28.4%, outperforming the industry growth of 26.1% [6]

They don't ring a closing bell on the internet.Treasuries, stocks, private credit, even uranium: every day another asset is tokenized and trading 24/7.The Bloomberg terminal for internet capital markets has arrived.Follow @capitalmarkets for updates.Capital Markets (@capitalmarkets):Introducing @capitalmarkets.Your new home for institutional news, research, and experiments at the bleeding edge of digital finance. https://t.co/junSw0z76l ...

Core Insights - Private credit, particularly asset-backed finance (ABF), is a rapidly growing sector in global finance, currently valued at $6.1 trillion with an addressable market exceeding $20 trillion [1] - The industry is characterized by inefficiencies due to reliance on traditional management methods, leading to increased operational costs and cash drag [2][5] Industry Overview - ABF differs from corporate credit as it relies on the cash flows of underlying assets rather than the borrower's balance sheet, necessitating bespoke facilities for originators [3] - Originators face challenges with thousands of loan requests monthly, but capital often remains idle, resulting in cash drag and reliance on expensive equity to bridge funding gaps [4] Technological Transformation - A significant shift is occurring in ABF, driven by blockchain technology and programmable finance, which promises to enhance infrastructure and reduce costs [6] - New entrants can leverage programmable credit facilities and stablecoin rails to streamline origination and funding processes, thereby eliminating cash drag [7] Market Implications - The adoption of on-chain infrastructure allows large managers to reduce operational inefficiencies while enabling smaller funds and family offices to participate without extensive staffing [8] - The integration of blockchain technology in ABF is addressing existing frictions and capitalizing on the expanding market opportunity, particularly in the context of renewed interest in crypto and stablecoin issuance [9]

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Core Viewpoint - The long-term valuation of Ethereum (ETH) is under scrutiny, with significant criticism directed at bullish claims made by Wall Street figures, particularly regarding stablecoin adoption and institutional demand [2][3]. Group 1: Critique of Bullish ETH Outlook - Andrew Kang challenges Tom Lee's thesis that ETH could achieve a 100x increase, arguing that the macro super cycle and institutional adoption do not substantiate such a valuation [2][3]. - Lee's price targets for ETH range from $4,000 to $15,000 by 2025, with potential long-term upside exceeding $20,000 based on historical ratios and institutional buying [3]. - Kang describes Lee's arguments as financially illiterate, emphasizing that the increase in tokenized asset value and stablecoin transaction volumes has not translated into higher fees for Ethereum [4][3]. Group 2: Disconnect in Revenue Generation - Kang points out that despite the growth in tokenized assets and stablecoin volumes, Ethereum's fees have remained stagnant since 2020, indicating a disconnect between adoption and revenue [4]. - Factors contributing to this disconnect include more efficient Ethereum upgrades, the migration of stablecoin activity to other blockchains, and the tokenization of low-velocity assets that yield minimal fees [5]. Group 3: Competitive Landscape - Kang asserts that faster-moving competitors like Solana, Arbitrum, and Tempo are the primary beneficiaries of tokenization, rather than Ethereum [6]. - Tether's recent decision to expand USDT activity onto new chains is highlighted as evidence of this competitive shift [6]. Group 4: Institutional Demand and Technical Arguments - Lee's assertion that institutions will accumulate and stake ETH as part of their tokenization strategies is questioned, suggesting that this premise does not convincingly support a bullish outlook for Ethereum [8].

Core Insights - Franklin Templeton is expanding its tokenization platform to BNB Chain, leveraging its low-cost and compliance-ready infrastructure to enhance product availability [1] - The OnChain U.S. Government Money Fund, administered through the Benji Technology Platform, has grown to $732 million since its launch in 2021, with 938 holders across multiple blockchains [2] - Franklin Templeton and Binance are collaborating on new digital asset products aimed at a diverse range of investors, with further details expected later this year [3] Industry Context - BNB Chain, launched in 2020, serves as a layer-1 network and has become a significant player in the crypto space, hosting $12.5 billion worth of stablecoins and 2.27 million active addresses [4] - The price of BNB has increased by 58% over the past year, reaching an all-time high of $1,079, indicating strong market performance and renewed interest in the network [5]

Core Insights - Franklin Templeton is expanding its proprietary Benji Technology Platform to the BNB Chain ecosystem, enhancing its tokenization capabilities by utilizing BNB Chain's scalable and low-cost infrastructure [1][4] - The partnership aims to deliver tokenized assets with greater utility and enhanced features for both retail and institutional clients globally [2] - The total value of real-world assets tokenized on the BNB Chain exceeds $542 million, positioning it as the eighth-largest in the world, with the global RWA market projected to reach $30 trillion by 2030 [5] Company Developments - The Benji Technology Platform facilitates 24/7 trading and management of tokenized assets, with a history of expansion across multiple blockchains including Stellar, Ethereum, and VeChain [3] - Franklin Templeton's focus on partnering with a chain that demonstrates real liquidity and adoption at scale is crucial for its institutional strategy [5] Industry Trends - Institutional adoption of tokenization is transitioning from pilot projects to scaled deployment, with a current emphasis on networks that can support regulated assets at institutional standards [6] - The growth of the global RWA market has been significant, increasing fivefold in three years, indicating a strong trend towards tokenization in the financial sector [5][6]

Core Viewpoint - The global financial system is undergoing a profound restructuring driven by digital technology, with blockchain as a cornerstone, reshaping payment clearing and asset circulation models, and triggering historic changes in monetary sovereignty and cross-border financial infrastructure [2]. Group 1: Blockchain and Financial Infrastructure - The innovation wave based on blockchain is transitioning from technical experimentation to compliant market practices, with a significant opportunity for the internationalization of the Renminbi in the digital currency era [2]. - The blockchain industry is moving from underlying protocol iterations to a commercial ecosystem explosion, with the need for forward-looking assessments of large-scale implementations in securities, trade, and supply chain scenarios [2]. - The trend of Tokenization is shifting from experimental scenarios to mainstream financial infrastructure, indicating a critical evolution in the industry [2]. Group 2: Regulatory Challenges and Opportunities - There are significant challenges in mapping traditional legal frameworks to on-chain rights, highlighting the urgent need to explore more innovative regulatory pathways [2].

Daily News 🗞 | Sep 24• Forward Industries wants to tokenize its Nasdaq shares on Solana• Solana’s Alpenglow upgrade could make it faster than Google• Kazakhstan launches Evo stablecoin with Solana and Mastercard• 21Shares Dogecoin ETF listed on DTCC under ticker TDOG• Samsung taps blockchain startup to train AI for ultrasound devices#CryptoNews #PoloniexNEWS ...

Photo by BeInCrypto Morgan Stanley has confirmed plans to introduce cryptocurrency trading for retail customers on its E*Trade platform in the first half of 2026, partnering with digital asset infrastructure provider Zerohash. Wall Street institutions have made few commitments this large to integrate digital assets into everyday brokerage accounts. Morgan Stanley Launches Retail Crypto Trading Morgan Stanley announced on September 23 that it would partner with Zerohash to launch a crypto trading program ...