Crypto Last Week: Morgan Stanley makes crypto history 

Stocks and crypto markets saw a brief return of, dare we say, optimism after a proposed US-Iran ceasefire last week. While Wall Street made crypto history, again, the Clarity Act got another push from the White House. Will it land this time, though? Ripple also has its sights on Africa. Let’s get into it.

In this week’s issue: 

• Black gold calls the shots
  
• Morgan Stanley launches new Bitcoin ETF
  
• Ripple sets its sights on Africa

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01 — CRYPTO MARKETS

Bitcoin reaches $72,000 during turbulent week of geopolitical tension

Crypto markets posted a cautious recovery with Bitcoin rising roughly 4-5% above $70k and Ethereum gaining around 3-8%, as easing US-Iran tensions triggered a broad risk‑on move and over $600 million in short‑liquidations. Main catalysts were geopolitical relief, steady BTC‑ETF inflows, and further institutional accumulation (Strategy, Metaplanet).

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02 — THE BIG NEWS

What is the Strait of Hormuz and why does it matter?

The Strait of Hormuz is a vital waterway and global trade route connecting the Persian Gulf to the Gulf of Oman and the Arabian Sea, passing between Iran and Oman and the UAE. It is the world’s most critical oil chokepoint and the only maritime passage out of the Gulf. 

Around 20% of global oil and a significant share of the world’s liquefied natural gas normally transit through it. 

The closure due to the ongoing conflict has effectively shut down global shipping traffic through the Gulf, disrupting the flow of oil, gas and other essentials from states that collectively export roughly a fifth of the world’s oil. The result has been sharp price hikes and severe volatility across global financial markets. Oil prices surged above $100 per barrel from a pre-war price of around $65.

US President Donald Trump has attempted various measures to restore the flow of oil, from threats to diplomatic negotiations, but the strait remains largely closed.

Beyond the trading floor

The conflict has not only sent fuel prices soaring but has squeezed supplies of petrochemicals needed to make everyday items like shoes, clothing and plastic bags, with that strain spreading into every corner of the consumer market, CNN reports.

According to the IEA, the conflict has created the largest supply disruption in the history of the global oil market. The loss of supply is pushing up prices for crude oil above $100 per barrel and driving much higher prices for refined products, notably diesel, jet fuel and liquefied petroleum gas. Concerns are growing about the impact on households, businesses and the broader economy.

The situation is expected to outlast the conflict itself. “So the oil shortages we have been seeing are only going to get worse, even if magically the Strait of Hormuz would reopen tomorrow. We will face massive energy costs, not just while this crisis goes on but also for six to 12 months after it is over,” Lars Jensen, CEO of Vespucci Maritime, told BBC News.

Bitcoin’s moment

The crisis has handed Bitcoin what many analysts expected to be a major test. When US and Israeli forces launched strikes on Iran on a Saturday in late February, Bitcoin was among the few major liquid markets open, and it absorbed the shock quickly, falling about 3.5-4.5% on the opening weekend before stabilising.

By mid‑March, Bitcoin was up approximately 7-8% from its immediate post‑strike lows, while gold had dropped roughly 16-17% and the S&P 500 was down around 4-5% since the start of the conflict. Gold, the traditional safe haven, suffered its sharpest monthly decline since at least 2022, and the S&P 500 recorded its steepest monthly drop in the same period, leaving Bitcoin as the only one of the three assets in clear positive territory over that stretch.

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03 – INSTITUTIONAL

Morgan Stanley launches MSBT, Wall Street’s first bank-backed Bitcoin ETF

Morgan Stanley Investment Management announced  in a press release the launch of Morgan Stanley Bitcoin Trust, an exchange-traded product (ETP) that will track the performance of Bitcoin.

It’s the first Wall Street bank to launch its own Bitcoin-tracking ETF. Other banks have launched their own ETFs but the distinction here being that previous Bitcoin ETFs were all issued by standalone asset managers like BlackRock and Fidelity, not bank-owned investment arms.

CoinDesk reports that the ETF began trading on Wednesday on strong footing, tagging over 1.6 million shares traded and an estimated $34 million in inflows. These figures might be an early sign of demand, although it remains to be seen whether MSBT will really thrive in a competitive and saturated market. 

This marks a turning point in Wall Street’s acceptance of crypto. When a major bank builds its own product rather than just offering third-party options, it could signal institutional confidence that Bitcoin is a permanent asset class.

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04 — AFRICAN MARKETS & REGULATION

Ripple expands into Africa amid growing crypto regulation adoption

Ripple outlined the company’s aim to push crypto adoption across the globe and expand its presence in Africa. This follows the continent’s rapid embrace of digital assets, which has prompted regulators in key jurisdictions to begin laying the groundwork for formal digital asset regulation. 

The company says it is providing crypto solutions to support Africa’s growing digital economy through its stablecoin, RLUSD. 

They are also working with Mercy Corps Ventures in Kenya to improve the speed and transparency of aid delivery, alongside partnerships with companies aimed at expanding institutional access across the continent. Most recently, Ripple entered a strategic partnership with Absa Bank, focused on delivering security and compliance to customers.

Africa’s clear crypto regulations are attracting major institutional players like Ripple who can now build compliant infrastructure for cross-border payments. This validates that regulatory clarity unlocks real-world utility, transforming crypto from speculative assets into practical tools for remittances and financial inclusion where traditional banking hasn’t reached.

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