{"id":9806,"date":"2024-01-14T13:58:38","date_gmt":"2024-01-14T13:58:38","guid":{"rendered":"https:\/\/coinengineer.io\/blog\/?p=9806"},"modified":"2024-01-14T13:58:54","modified_gmt":"2024-01-14T13:58:54","slug":"morgan-stanley-etf-approval-could-signal-potential-paradigm-shift","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/morgan-stanley-etf-approval-could-signal-potential-paradigm-shift\/","title":{"rendered":"Morgan Stanley: ETF Approval Could Signal Potential Paradigm Shift"},"content":{"rendered":"<p data-sourcepos=\"3:1-3:367\">Andrew Peel, head of digital at Morgan Stanley, said that Bitcoin was an idea that emerged on an internet forum 15 years ago. As stablecoin volumes rival payment networks like PayPal and Visa, the adoption of Bitcoin by Wall Street in the form of spot Bitcoin ETFs could signal a \u201cpotential paradigm shift in the global perception and use of digital assets,\u201d he said.<\/p>\n<p data-sourcepos=\"3:1-3:367\">You might like: <a href=\"https:\/\/coinengineer.net\/blog\/upbit-exchange-incredible-volume-spikes-in-5-altcoins\/\" target=\"_blank\" rel=\"noopener\"><span style=\"text-decoration: underline;\"><strong><em>Upbit Exchange: Incredible Volume Spikes in 5 Altcoins<\/em><\/strong><\/span><\/a><\/p>\n<p data-sourcepos=\"5:1-5:366\">In a note to investors, Peel (Morgan Stanley) provided an overview of the current threats to the US dollar&#8217;s current dominance as the world&#8217;s reserve currency, due to the fact that 60% of global foreign exchange reserve balances are held in dollars. In comparison, China&#8217;s yuan makes up only 2.5% of those reserves, despite the country&#8217;s recent efforts to increase its foreign trade.<\/p>\n<p data-sourcepos=\"7:1-7:225\">However, Peel wrote, various \u201cdollarization\u201d threats, including the \u201cnotable\u201d adoption of Bitcoin around the world, could erode the dollar&#8217;s top spot. He noted that 100 million people around the world hold the cryptocurrency.<\/p>\n<p data-sourcepos=\"9:1-9:341\">Peel also noted that stablecoin trading volume has rivaled traditional digital exchanges like Visa and PayPal in recent years. He said that stablecoins could be the \u201ckiller app\u201d of crypto. Both Visa and PayPal have taken steps to adopt stablecoins themselves, with Visa integrating USDC on Solana and PayPal integrating the PYUSD stablecoin.<\/p>\n<hr \/>\n<div>\n<div>\n<div>\n<div>\n<div>\n<div class=\"darkmysite_style_txt_border darkmysite_processed\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\">\n<div class=\"darkmysite_style_txt_border darkmysite_processed\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\">\n<p class=\"darkmysite_style_txt_border darkmysite_processed\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\"><em class=\"darkmysite_style_txt_border darkmysite_processed\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\">Also, you can freely share your thoughts and comments about the topic in the comment section. Additionally, please follow us on our\u00a0<a class=\"darkmysite_style_txt_border darkmysite_style_link darkmysite_processed\" href=\"https:\/\/t.me\/coinengineernews\" target=\"_blank\" rel=\"noreferrer noopener\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\"><strong class=\"darkmysite_style_txt_border darkmysite_processed\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\">Telegram<\/strong>,\u00a0<\/a><a class=\"darkmysite_style_txt_border darkmysite_style_link darkmysite_processed\" href=\"https:\/\/www.youtube.com\/@CoinEngineer\" target=\"_blank\" rel=\"noreferrer noopener\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\"><strong class=\"darkmysite_style_txt_border darkmysite_processed\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\">YouTube\u00a0<\/strong><\/a>and\u00a0<a class=\"darkmysite_style_txt_border darkmysite_style_link darkmysite_processed\" href=\"https:\/\/twitter.com\/coinengineers\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\"><strong class=\"darkmysite_style_txt_border darkmysite_processed\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\">Twitter<\/strong><\/a> channels for the latest news and updates.<\/em><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Andrew Peel, head of digital at Morgan Stanley, said that Bitcoin was an idea that emerged on an internet forum 15 years ago. As stablecoin volumes rival payment networks like PayPal and Visa, the adoption of Bitcoin by Wall Street in the form of spot Bitcoin ETFs could signal a \u201cpotential paradigm shift in the<\/p>\n","protected":false},"author":1,"featured_media":9807,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[3629,61,3094,3628,1814],"class_list":["post-9806","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-andrew-peel","tag-bitcoin","tag-etfs","tag-morgan-stanley","tag-wall-street"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Morgan Stanley: ETF Approval Could Signal Potential Paradigm Shift - Coin Engineer<\/title>\n<meta name=\"description\" content=\"Andrew Peel, head of digital at Morgan Stanley, said that Bitcoin was an idea that emerged on an internet forum 15 years ago.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/coinengineer.net\/blog\/morgan-stanley-etf-approval-could-signal-potential-paradigm-shift\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Morgan Stanley: ETF Approval Could Signal Potential Paradigm Shift - 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