Bitcoin got a boost to start the week, lifting crypto-linked stocks.
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Key Takeaways
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The price of bitcoin briefly broke above $70,000 Monday amid reports that a proposal of a U.S.-Iran ceasefire was being discussed.
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Crypto is still making inroads on Wall Street, with firms like Morgan Stanley and Charles Schwab set to launch their own offerings.
Bitcoin is getting a boost as investors look to Washington for signs of an end to the war in Iran.
The price of the world’s largest cryptocurrency briefly rose above $70,000 early Monday before paring some of ithose gains as risk assets, including U.S. stocks, climbed on the potential for a ceasefire. A senior White House official said the proposal was part of ongoing discussions, but that President Donald Trump had not signed off on the idea, according to NBC News.
Trump is expected to hold a news conference later this afternoon. Crypto-linked stocks, including Coinbase (COIN), Circle (CRCL), Strategy (MSTR) and Robinhood (HOOD), also rose Monday.
WHY THIS MATTERS TO YOU
Crypto markets haven’t been able to stick a turnaround since prices plunged from October peaks. What it will take to drive an earnest rally in coins remains to be seen, but that Wall Street firms continue to launch in the space could be a hopeful signal.
Meanwhile, crypto continues to make inroads on Wall Street, with firms such as Morgan Stanley (MS) and Charles Schwab (SCHW) launching new products and services.
Morgan Stanley will soon launch a new spot bitcoin exchange-traded fund with the lowest fee on the market, according to a regulatory filing, a sign that the firm intends to compete with existing bitcoin ETFs that have been on the market since their broad approval in January 2024. The Morgan Stanley Bitcoin Trust is expected to trade under the symbol “MSBT.”
And Charles Schwab is expected to launch direct spot bitcoin (BTCUSD) and ether (ETHUSD) trading on its platform later this quarter. A new crypto-specific landing page on its website indicates that “Schwab Crypto” is coming soon.”
Schwab chief Rick Wurster said in January that the firm’s clients held a roughly 20% share of spot crypto ETFs, according to conference-call transcripts provided by AlphaSense. Wurster at the time said that the firm was on track to launch bitcoin and ether spot trading in the first half of 2026.
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