Morgan Stanley filed amended registration statements for proposed Ethereum and Solana ETF trusts, setting a 0.14% annual delegated sponsor fee, the lowest for such products globally. The move aims to position these crypto assets as portfolio building blocks for institutional investors.
Bitwise's HYPE ETF (BHYP) now has options trading on the NYSE, creating a regulated link between US equity markets and the 24/7 Hyperliquid crypto exchange. This connects ETF shares, US options, HYPE spot/perpetual futures, and Hyperliquid's on-chain economy, allowing for new risk management and trading strategies.
UnitedHealth Group (UNH) receives bullish analyst upgrades from UBS and BofA, with price targets raised to $460 and $420 respectively, driven by strong Q1 results and confidence in margin recovery.
Life Time Group Holdings beat Q1 estimates with adjusted EPS of 42c, revenue $788.7M, and comparable center revenue up 8.6%. Morgan Stanley raised price target to $39. The company also acquired the Phoenix 10K race and plans to open 12-14 new clubs this year.
NYSE-listed crypto exchange operator Bullish will merge blockchain infrastructure with a transfer agent serving traditional equity markets.
Bill Ackman's Pershing Square debuted its long-awaited IPO on Wednesday, raising $5 billion at the low end of expectations after initially targeting $5-10 billion. The dual-structure offering created Pershing Square USA (PSUS) and Pershing Square Inc. (PS) on the NYSE, with PSUS closing 18% below its $50 IPO price at $40.90. The platform aims to replicate Warren Buffett's Berkshire Hathaway model with permanent capital, holding a concentrated portfolio of 10 large-cap names including Amazon, Uber and Brookfield.
Bill Ackman's Pershing Square launched its long-awaited IPO on Wednesday, raising $5 billion in a scaled-back offering that created two separately traded entities on the NYSE: Pershing Square USA Ltd. (PSUS) and Pershing Square Inc. (PS). The deal priced at the low end of expectations after initially targeting $5-10 billion, far below earlier ambitions of $25 billion two years ago. PSUS opened at $42 (down from $50 IPO price) and trades around $40.90, down 18%. The dual structure allows investors exposure to either the underlying portfolio or the management business, with the firm emphasizing its 2,600%+ cumulative returns since 2004 and a notable 2020 Covid hedge that generated $2.6 billion from a $27 million bet.
Bill Ackman's Pershing Square launches on NYSE Wednesday with a $5 billion IPO, pricing at the low end after originally targeting up to $25 billion two years ago. The dual-structure offering creates Pershing Square USA Ltd. (PSUS) and Pershing Square Inc. (PS), allowing investors exposure to either the portfolio or management business. The firm runs a concentrated portfolio of 10 large-cap names including Amazon, Uber and Brookfield, and has generated 2,600% cumulative returns since 2004.
The round comes on the heels of NYSE parent company Intercontinental Exchange’s $2 billion investment in the prediction market firm.
Morgan Stanley launched the first US bank-affiliated spot Bitcoin ETF (MSBT) on April 8 with a 0.14% sponsor fee, the lowest in the category. The fund attracted $116 million in cumulative net inflows by April 16, surpassing BTCW's $86 million total in less than two weeks. Goldman Sachs filed for a Bitcoin ETF six days later, while Bank of America and Schwab announced expanded crypto access, signaling rapid normalization of bank-branded crypto products.
Crypto majors are red following Trump’s tariff turmoil; BTC -2% at $91,100; ETH -4% at $3,105, SOL -3% at $129; XRP -2% to $1.93. CC (+12%), MYX (+5%) and SYRUP (+4%) led top movers. The NYSE began preparations for 24/7 tokenized stock and ETF trading. Steak ’n Shake revealed roughly $10M in Bitcoin exposure alongside the creation of a corporate BTC strategic reserve. Vitalik Buterin called for more sophisticated DAO governance models to improve accountability, coordination, and long-term sustainability. Bermuda outlined plans for a fully onchain national economy, working with Coinbase and Circle on payments, identity, and tokenized financial infrastructure. In Corporate Treasuries / ETFs. The BTC ETFs saw $394M in net outflows on Friday breaking a 4-day inflow streak; ETH ETFs stayed green with $4.7M in inflows. In Memes / Onchain Movers. Meme majors were red along with majors; Doge -1%, Shiba -1%, PEPE -2%, TRUMP -1%, Bonk -1%, Pengu -4%, SPX -12%, WIF -1% and Fartcoin -8%. USOR (+70%), GSD (+50%), and Eliza Town (+800%) led onchain movers.
Crypto majors are red following Trump’s tariff turmoil; BTC -2% at $91,100; ETH -4% at $3,105, SOL -3% at $129; XRP -2% to $1.93. CC (+12%), MYX (+5%) and SYRUP (+4%) led top movers. The NYSE began preparations for 24/7 tokenized stock and ETF trading. Steak ’n Shake revealed roughly $10M in Bitcoin exposure alongside the creation of a corporate BTC strategic reserve. Vitalik Buterin called for more sophisticated DAO governance models to improve accountability, coordination, and long-term sustainability. Bermuda outlined plans for a fully onchain national economy, working with Coinbase and Circle on payments, identity, and tokenized financial infrastructure. In Corporate Treasuries / ETFs. The BTC ETFs saw $394M in net outflows on Friday breaking a 4-day inflow streak; ETH ETFs stayed green with $4.7M in inflows. In Memes / Onchain Movers. Meme majors were red along with majors; Doge -1%, Shiba -1%, PEPE -2%, TRUMP -1%, Bonk -1%, Pengu -4%, SPX -12%, WIF -1% and Fartcoin -8%. USOR (+70%), GSD (+50%), and Eliza Town (+800%) led onchain movers.
