Here’s a quick recap of the crypto landscape for Wednesday (January 7) as of 9:00 a.m. UTC.
Get the latest insights on Bitcoin, Ether and altcoins, along with a round-up of key cryptocurrencymarket news
Bitcoin and Ether price update
Bitcoin (BTC) was priced at US$92,639.95, down by 2.0 percent over 24 hours.
Chart via TradingView
Bitcoin price performance, January 7, 2025.
Ether (ETH) was priced at US$3,253.52, down by 1.2 percent over the last 24 hours.
Altcoin price update
- XRP (XRP) was priced at US$2.28, down by 5.6 percent over 24 hours.
- Solana (SOL) was trading at US$139.36, down by one percent over 24 hours.
Today’s crypto news to know
Morgan Stanley files for Bitcoin, Solana, Ethereum ETFs in late crypto push
Morgan Stanley has filed registration statements for Bitcoin and Solana exchange-traded products, marking its first direct entry into the rapidly expanding US crypto ETF market.
Later, the bank also submitted paperwork for an Ethereum trust, signaling a broad-based push into digital assets rather than a single-product experiment.
The filings outline trusts that would hold the underlying assets, with the Solana product set to include a staking component that would generate yield from network participation. The trusts would be sponsored by Morgan Stanley Investment Management, according to regulatory documents.
Following intensifying competition among traditional asset managers, Morgan Stanley has gradually widened crypto access for clients, including opening limited exposure through its wealth management arm last year.
Bitcoin ETF outflows pick up as rally loses steam
US-listed spot Bitcoin ETFs recorded net outflows of US$243 million as Bitcoin’s early-2026 rally showed signs of cooling.
The flows were uneven across issuers, with BlackRock’s IBIT attracting US$228 million even as Fidelity’s FBTC led redemptions at $312 million, according to SoSoValue data. Additional outflows were also logged at Grayscale’s GBTC and smaller issuers.
The pullback followed Bitcoin’s retreat from a weekly high above US$94,000 to just over US$92,000 amid a wave of liquidations.
In contrast, Ethereum and Solana spot ETFs continued to draw capital, reinforcing the idea among investors that risk appetite has narrowed rather than disappeared.
Shares of Strategy (NASDAQ:MSTR) climbed in premarket trading after MSCI dropped a proposal to exclude crypto treasury firms from its equity indexes.
The decision eased near-term concerns for companies that hold large digital asset positions as part of their balance sheets, often referred to as digital asset treasury companies. MSCI had argued that such firms resemble investment funds, which are typically barred from inclusion, a stance that rattled the sector when floated last fall.
Strategy, formerly MicroStrategy, is widely viewed as the archetype of the model after amassing a massive Bitcoin position beginning in 2020.
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Securities Disclosure: I, Meagen Seatter, hold no direct investment interest in any company mentioned in this article.
Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.
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