Wednesday, 7 January 2026 - TradFI meets crypto: ETFs, treasuries, IPOs

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After launching and presenting the vision for Kaupr Today on Sunday, and sending out the first regular newsletters on Monday and Tuesday, today’s edition goes further into early‑year global market and policy signals — and what they mean for the Nordic future of finance and the internet.

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Welcome!
Morten

Morgan Stanley joins the bitcoin ETF race on Wall Street​

Morgan Stanley has filed with the US Securities and Exchange Commission to launch exchange‑traded products tied to bitcoin and solana, including a spot bitcoin ETF that would hold the cryptocurrency directly. The move marks the first such push from a major US bank, coming two years after spot bitcoin ETFs were first approved and as client demand for regulated crypto exposure keeps growing.​

Why it matters: A tier‑one bank entering the spot bitcoin ETF market further normalizes crypto as an asset class, intensifies competition with existing issuers, and could draw more conservative institutional and wealth‑management capital into bitcoin.​
Source: Reuters and related ETF filings and coverage.

Source: Morgan Stanley files for bitcoin, solana ETFs in digital assets push (Reuter)

MSCI reversal sparks 6% jump in bitcoin‑treasury stock​

Shares of Strategy (formerly MicroStrategy) jumped about 6% in after-hours trading after index provider MSCI said it will not move ahead, for now, with a proposal to exclude digital asset treasury companies from its global equity indexes in the February 2026 review. The decision removes an immediate overhang for firms that hold large bitcoin positions on their balance sheets, though MSCI will freeze changes such as additions or size upgrades while it launches a broader consultation on how to classify non-operating, crypto-heavy companies.​

Why it matters: Keeping bitcoin-treasury companies in major MSCI benchmarks preserves access to passive capital and reduces short-term index risk for listed “bitcoin proxy” stocks, but the upcoming consultation means the eligibility debate — and potential policy shock — is far from over.​

Source: Coverage of MSCI’s digital asset treasury consultation and Strategy’s stock reaction in Yahoo Finance

Ripple doubles down on “no IPO” stance despite $40B valuation​

Ripple is pushing back on renewed IPO speculation, with president Monica Long reiterating that the company has no plan or timeline to go public and intends to remain private even after a roughly 500 million dollar funding round that valued the firm near 40 billion dollars. Strong internal liquidity and fresh capital mean Ripple can fund expansion in payments, tokenization and its planned stablecoin business without tapping public markets, setting it apart from crypto peers courting 2026 listings.​

Why it matters: Staying private lets Ripple keep tight strategic control while building institutional infrastructure around XRP and related products, but delays any IPO-driven liquidity event for traditional investors betting on the company’s growth story.​
Source: Recent coverage of Ripple’s funding round and IPO comments.

Source: Ripple steays independent, rejects IPO despite $40B Valuation. Crypto Economy

Walmart’s OnePay brings crypto to everyday shoppers

UPDATED with a rich article on kaupr.io. Walmart is deepening its crypto push via fintech app OnePay, which now lets millions of users buy, hold and convert Bitcoin and Ether, moving digital assets closer to day-to-day retail use at the world’s largest retailer. The rollout, supported by infrastructure provider Zerohash, aligns Walmart with a broader wave of institutional crypto adoption among major retailers and e-commerce platforms, and turns OnePay into an “all-in-one app” that blends mobile banking, loyalty benefits and BTC/ETH trading.​

Why it matters: As OnePay makes crypto-to-fiat conversion seamless for Walmart purchases, crypto shifts from niche investment to a practical payment rail, raising competitive pressure on banks, Nordic and European trade players, and rivals like Amazon to respond.

Source: Kaupr news site, where you can read the updated story in English, Norwegian, Swedish and Danish

UN: Blockchain on track to become multi‑trillion‑dollar “core” tech by 2033​

The UN’s 2025 Technology and Innovation Report projects blockchain as a multi‑trillion‑dollar market by 2033, putting it alongside AI, IoT and 5G as a core pillar of the global digital economy rather than a niche experiment. This outlook has been picked up and highlighted by the Nordic Blockchain Association, which frames blockchain as strategic infrastructure for trust‑by‑design, more efficient financial and public systems, cross‑border interoperability, tokenisation and better conditions for startups and SMEs to scale.​

Why it matters: In its post, the Nordic Blockchain Association adds a separate takeaway for the region, arguing that the Nordics’ strong institutions, high digital maturity and public‑private collaboration give them a unique chance to turn blockchain into a competitive advantage — but only if they act now on regulatory clarity and real‑world implementations instead of letting other regions set the standards.

Source: UNCTAD 2025 Technology and Innovation Report and Nordic Blockchain Association’s LinkedIn post on the report

Crypto rules and Clarity Act in focus​

The US House has passed the Digital Asset Market Clarity Act (CLARITY Act), a bill that would define many digital assets as commodities, carve some established blockchains out of SEC oversight, and set new compliance rules for exchanges and brokers — potentially boosting ETF-listed coins like Bitcoin, Ethereum, Solana and XRP if the Senate follows through in January 2026. At the same time, Washington is debating whether the US should build a national crypto reserve, an idea backed by Donald Trump but currently stalled by divisions in Congress.​

Why it matters: Clearer US rules plus even a serious discussion about a national crypto reserve would mark a major shift in how the world’s biggest economy treats digital assets, with big implications for institutional capital, regulation and long-term demand.​

Source: “3 Important Crypto Events in January 2026: What to Watch Out For? Pintu News

What to watch today

The US Senate’s handling of the CLARITY Act, Morgan Stanley’s new spot bitcoin ETF filing, and MSCI’s rethink on excluding bitcoin‑treasury firms together set today’s tone for how deeply crypto gets embedded in mainstream finance.

Why it matters: Any movement on US rules, a tier‑one bank’s ETF launch, or index methodology for bitcoin‑heavy balance sheets could shift institutional appetite, ETF flows and index‑driven demand, making this trio of signals key for both direct crypto markets and listed “bitcoin proxy” stocks

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Best regards
Morten Myrstad
Founder & Editor