Crypto Market Update: Potential Buyers Circle Gemini Assets

The cryptocurrency market continues to experience significant developments, with several companies making headlines this week.

Morgan Stanley Investment Management announced the launch of Morgan Stanley Bitcoin Trust, an exchange-traded product that seeks to track the performance of bitcoin. The trust will utilize Coinbase and BNY Mellon for digital asset custody services.

Several brokerages updated their price targets and research notes on companies in the crypto space. Morgan Stanley lowered its price target on Gemini to $6 from $13, while other companies received similar updates.