BlackRock and Morgan Stanley square off in Bitcoin ETF ‘fee war’
Markets By Pedro Solimano 9 April 2026 at 23:29 Morgan Stanley launched a Bitcoin ETF at 14 basis points, cheaper than most competitors.The firm's 16,000 advisers manage $7 trillion in client assets.Financial adviser Ric Edelman predicts a fee war will force broader industry adoption. Morgan Stanley just fired the opening shot in a Bitcoin exchange-traded fund “fee war” — and the bank set its sights directly on BlackRock’s back. The Wall Street behemoth launched its Bitcoin ETF yesterday — to a strong $33 million debut — charging its clients just 0.14%. That undercuts most of its competitors, and sets up a battle for rock-bottom prices that could reshape the Bitcoin ETF market, market watchers say. "By pricing their ETF at just 14 basis points, Morgan Stanley both eliminates any criticism over conflicts of interest and gives their advisers a strong argument for recommending its fund over any of the competitors," Ric Edelman, founder of the Digital Assets Council of Financial Professionals, told DL News.
Three-fold impact Edelman sees Morgan Stanley’s ETF hitting the market from three angles.
First, it will siphon assets from existing crypto ETFs. Investors already holding BlackRock, Fidelity, or Grayscale products may switch to save on fees — especially if their Morgan Stanley adviser recommends it.
Second, it will bring fresh capital into crypto. Many of Morgan Stanley’s clients have been sitting on the sidelines, waiting for their trusted brand to offer Bitcoin exposure in-house and at lower prices.
Third, it legitimises Bitcoin. When one of the nation’s largest brokerage firms issues its own fund — rather than just listing competitors' products — it sends a signal to the financial establishment that Bitcoin is here to stay.
"Combined, these will lead to broader adoption of crypto by investors nationwide," Edelman said. He is not the only one to take notice Bitcoin to benefitEven though lower fees don’t directly move Bitcoin’s price, Edelman argues that the fee war will indirectly help it rally. "The fee war not only benefits investors, it demonstrates to them that there's a huge demand for this asset," he said. That social proof could push fence-sitters into finally allocating, which could drive the price of Bitcoin much higher.
In fact, Edelman already predicted that Bitcoin will topple $180,000 this year.
And when Morgan Stanley’s 16,000 advisers start recommending Bitcoin to clients sitting on $7 trillion, those flows add up fast.#BitcoinDunyamiz
“This flywheel is just starting to spin,” he said.
Trade a minimum equivalent of $10 USD in $PIXEL to earn 5 points (no tiers, 5 points are awarded regardless of the number of trades). Futures trading volume is only counted when positions are closed, and after deducting trading fees, the position value must be equal to or greater than the equivalent of $10 USD. Trade a minimum equivalent of $10 USD in $PIXEL to earn 5 points (no tiers, 5 points are awarded regardless of the number of trades). Futures trading volume is only counted when positions are closed, and after deducting trading fees, the position value must be equal to or greater than the equivalent of $10 USD. Trade a minimum equivalent of $10 USD in $PIXEL to earn 5 points (no tiers, 5 points are awarded regardless of the number of trades). Futures trading volume is only counted when positions are closed, and after deducting trading fees, the position value must be equal to or greater than the equivalent of $10 USD. Trade a minimum equivalent of $10 USD in $PIXEL to earn 5 points (no tiers, 5 points are awarded regardless of the number of trades). Futures trading volume is only counted when positions are closed, and after deducting trading fees, the position value must be equal to or greater than the equivalent of $10 USD. Trade a minimum equivalent of $10 USD in $PIXEL to earn 5 points (no tiers, 5 points are awarded regardless of the number of trades). Futures trading volume is only counted when positions are closed, and after deducting trading fees, the position value must be equal to or greater than the equivalent of $10 USD. How do I write a 500 word blog article in 15 minutes?
How do I write a 500 word blog article in 15 minutes?
How do I write a 500 word blog article in 15 minutes? Okay, so here you go.
Minute 1: Come up with a general idea of the topic. An idea.
Minute 2-3: Come up with an outline. It doesn't have to be very detailed. Just divide your article into 4-5 categories/subheadings that you're going to write about, and it will do just fine.
When I write a 500-word article, I come up with 5 different headings/points/ideas that I want to discuss in that post. I try to write 100 words explaining each of those ideas. This approach takes care of the total word-count.
At this stage, you may or may not come up with a finalized title for your article. If it comes naturally to you, by all means do it. However, if you're spending too much time on it, leave it for now. Given said that you must have a general idea of the topic you're writing about. The exact structure of the title may wait.
Minute 4-5: Write the introduction for your blog post. 80-100 words should be sufficient for a 500-word blog post. The tip is to not only introduce your article to your readers, but also to make a promise to them.
What are they going to learn from your article? Include it in the introduction.
For example, "In this post, I'm going to discuss 5 different ways that will help you get high-quality and powerful backlinks."
This helps you define the rest of the blog post.
Minute 5 - 15: Write the rest of the post. By the end of it, you would automatically know an excellent title for your post.
P.S: I have answered your question, but I do not recommend that you write 500-word blog posts in just 15 minutes. Blog posts are important and must be given appropriate time and attention.
I wrote this answer in a hurry (in 3-4 minutes), and I could have done so much better. But because I rushed through it, I must have made tons of mistakes here. I'm not even going to proofread it -- just to make my point. The things you write in a jiffy will be always half-baked (like this answer).
Spend more time on it and make your posts better. Proofread them over and over again until it all makes perfect sense. Argue with yourself over each sentence and word. Make something beautiful!
Trade a minimum equivalent of $10 USD in $PIXEL to earn 5 points (no tiers, 5 points are awarded regardless of the number of trades). Futures trading volume is only counted when positions are closed, and after deducting trading fees, the position value must be equal to or greater than the equivalent of $10 USD.Trade a minimum equivalent of $10 USD in $PIXEL to earn 5 points (no tiers, 5 points are awarded regardless of the number of trades). Futures trading volume is only counted when positions are closed, and after deducting trading fees, the position value must be equal to or greater than the equivalent of $10 USD.Trade a minimum equivalent of $10 USD in $PIXEL to earn 5 points (no tiers, 5 points are awarded regardless of the number of trades). Futures trading volume is only counted when positions are closed, and after deducting trading fees, the position value must be equal to or greater than the equivalent of $10 USD.Post at least one original content on Binance Square using our Article Editor, with a length of more than 500 characters. The post must mention the project account @Pixels (https://www.binance.com/en/square/profile/pixels), tag the token $PIXEL, and use the hashtag #pixel. The content must be highly relevant to Pixels & its Stacked ecosystem and must be original, not copied or duplicated. This task is ongoing and updated daily until the end of the campaign and will not be marked as complete. Suggested discussion points: https://tinyurl.com/2edxc4t2Post at least one original content on Binance Square using our Article Editor, with a length of more than 500 characters. The post must mention the project account @Pixels (https://www.binance.com/en/square/profile/pixels), tag the token $PIXEL, and use the hashtag #pixel. The content must be highly relevant to Pixels & its Stacked ecosystem and must be original, not copied or duplicated. This task is ongoing and updated daily until the end of the campaign and will not be marked as complete. Suggested discussion points: https://tinyurl.com/2edxc4t2Post at least one original content on Binance Square using our Article Editor, with a length of more than 500 characters. The post must mention the project account @Pixels (https://www.binance.com/en/square/profile/pixels), tag the token $PIXEL, and use the hashtag #pixel. The content must be highly relevant to Pixels & its Stacked ecosystem and must be original, not copied or duplicated. This task is ongoing and updated daily until the end of the campaign and will not be marked as complete. Suggested discussion points: https://tinyurl.com/2edxc4t2Trade a minimum equivalent of $10 USD in $PIXEL to earn 5 points (no tiers, 5 points are awarded regardless of the number of trades). Futures trading volume is only counted when positions are closed, and after deducting trading fees, the position value must be equal to or greater than the equivalent of $10 USD.Post at least one original content on Binance Square using our Article Editor, with a length of more than 500 characters. The post must mention the project account @Pixels (https://www.binance.com/en/square/profile/pixels), tag the token $PIXEL, and use the hashtag #pixel. The content must be highly relevant to Pixels & its Stacked ecosystem and must be original, not copied or duplicated. This task is ongoing and updated daily until the end of the campaign and will not be marked as complete. Suggested discussion points: https://tinyurl.com/2edxc4t2Trade a minimum equivalent of $10 USD in $PIXEL to earn 5 points (no tiers, 5 points are awarded regardless of the number of trades). Futures trading volume is only counted when positions are closed, and after deducting trading fees, the position value must be equal to or greater than the equivalent of $10 USD.Post at least one original content on Binance Square using our Article Editor, with a length of more than 500 characters. The post must mention the project account @Pixels (https://www.binance.com/en/square/profile/pixels), tag the token $PIXEL, and use the hashtag #pixel. The content must be highly relevant to Pixels & its Stacked ecosystem and must be original, not copied or duplicated. This task is ongoing and updated daily until the end of the campaign and will not be marked as complete. Suggested discussion points: https://tinyurl.com/2edxc4t2Trade a minimum equivalent of $10 USD in $PIXEL to earn 5 points (no tiers, 5 points are awarded regardless of the number of trades). Futures trading volume is only counted when positions are closed, and after deducting trading fees, the position value must be equal to or greater than the equivalent of $10 USD.Post at least one original content on Binance Square using our Article Editor, with a length of more than 500 characters. The post must mention the project account @Pixels (https://www.binance.com/en/square/profile/pixels), tag the token $PIXEL, and use the hashtag #pixel. The content must be highly relevant to Pixels & its Stacked ecosystem and must be original, not copied or duplicated. This task is ongoing and updated daily until the end of the campaign and will not be marked as complete. Suggested discussion points: https://tinyurl.com/2edxc4t2Trade a minimum equivalent of $10 USD in $PIXEL to earn 5 points (no tiers, 5 points are awarded regardless of the number of trades). Futures trading volume is only counted when positions are closed, and after deducting trading fees, the position value must be equal to or greater than the equivalent of $10 USD.Post at least one original content on Binance Square using our Article Editor, with a length of more than 500 characters. The post must mention the project account @Pixels (https://www.binance.com/en/square/profile/pixels), tag the token $PIXEL, and use the hashtag #pixel. The content must be highly relevant to Pixels & its Stacked ecosystem and must be original, not copied or duplicated. This task is ongoing and updated daily until the end of the campaign and will not be marked as complete. Suggested discussion points: https://tinyurl.com/2edxc4t2Trade a minimum equivalent of $10 USD in $PIXEL to earn 5 points (no tiers, 5 points are awarded regardless of the number of trades). Futures trading volume is only counted when positions are closed, and after deducting trading fees, the position value must be equal to or greater than the equivalent of $10 USD.
Meet Stacked. The App That Makes Play-to-Earn Actually Work.
A lot of people think of Pixels as just a game. That was never the full picture. As we built Pixels, we realized that most Web3 games share the same problem: how to add ownership to games without breaking their economies or attracting the wrong users. The hard part was never putting assets on-chain. The hard part is managing incentive alignment. And that is the biggest reason so many Web3 games have struggled. Over the last year, we’ve materially improved the economics within Pixels and gotten much closer to what the market has been chasing for a long time: sustainable play-to-earn. That problem became our obsession. That problem is what led to Stacked. Stacked is a rewards app for players and a rewarded LiveOps engine for games - built from everything we learned scaling Pixels. So What Is Stacked? For players, it is one place to: play games, complete missions, build streaks, earn rewards, and cash out across a growing ecosystem. For studios, it is the system underneath that experience: event tracking, targeting, reward logic, fraud controls, payouts, testing, attribution, and, increasingly, an AI game economist that helps teams figure out what to reward and why. What Stacked means for players
For players, the experience is meant to be simple. You download one app, play real games, get tasks matched to how you play, earn rewards, and you claim them in one place. That’s the experience. What makes it different is what happens underneath. Not every player should see the same task. Not every action deserves the same reward. And importantly: we do not sell personal data to third parties. Gameplay signals stay inside the Stacked system and are used to improve reward matching. The first wave: Stacked is launching first across our own first-party ecosystem: 🧑🌾 Pixels ⛏️ Pixel Dungeons 🦖 Sleepagotchi 🥰 Chubkins in early access Players should think about this as a soft launch. We’re starting with the games we know best, where we control the loops and understand the economics, so we can tighten the system before scaling. For the first few weeks, the rewards feed will focus on $PIXEL ecosystem games. Over time, more games, more reward types, and more experiences will appear as the network grows. The slow start is intentional. As confidence in the system builds, we’ll accelerate user acquisition, grow Stacked more aggressively, and open the doors to more B2B partners. The first chapter is focused. The latter ones get much bigger. What Stacked Means for Studios On the studio side, Stacked is the system we wish we had from day one. At its core, Stacked is a rewarded LiveOps engine. A studio integrates, sends gameplay events into the system, and Stacked helps decide: Who should get rewardedFor whatWhenAnd with what kind of reward The goal is to reward the right behavior, for the right user, at the right moment, and then measure whether it actually improved retention, revenue, or LTV. That is where Stacked becomes more than a quest board. It becomes a system for running reward-driven LiveOps with actual controls around targeting, pricing, attribution, and abuse.
One of the things we are most excited about is the agent layer built on top. This is not “AI” for the sake of saying we have AI - it is an AI game economist built to help LiveOps teams move faster and make better decisions. You can ask it questions like: What are my most loyal users doing before day 30?What separates whales that retain from whales that churn?Which mechanics correlate with long-term engagement?What reward experiments should we run to improve D7 retention?Where is reward spend leaking without lifting KPIs? The system can generate reports, identify meaningful cohorts, suggest experiments, and help teams create new reward logic tied to the outcomes they actually care about. This was built in production, not in a deck. Shaped by millions of players, hundreds of millions of rewards, and thousands of experiments across live game systems.
Why we think this has a real shot Over the last 4 years, the Pixels team has shipped hundreds of updates to millions of players. Throughout that time, we have been focused on one problem: figuring out how play-to-earn systems can actually work. We have learned tactics to prevent what usually goes wrong in these products: bots, farmed quests, shallow engagement, bad targeting, bad payout design, and reward loops that look good on paper but destroy value in practice. Stacked came directly out of these lessons. Second, we already have our own games to test it in. That matters. It means we can improve the system in live environments we know deeply before expanding it outward. We’re not reliant on the success of other games to scale the systems in the beginning stages. These concepts helped drive over $25M in revenue inside Pixels.
Stacked is already live and working For the past year, we’ve been optimizing the system around Return on Reward Spend in our core game, Pixels. The latest iterations have pushed the economics into a far healthier place, with real spend and real burn happening inside the game loop rather than endless emissions. So the story is not “maybe this could work someday.” The story is simple: This works now. It is live today. It has helped make Pixels profitable. Now the team is taking what it has learned and building beyond a single game. The ecosystem already includes Pixels, Pixel Dungeons, Sleepagotchi and Chubkins. That makes Stacked more than just a feature. It is the shared rewards layer across a growing ecosystem of games.
Where $PIXEL fits A lot of people will understandably ask where PIXEL fits into all of this. PIXEL remains an important part of the ecosystem, and the ecosystem itself is getting broader. At the same time, Stacked is built to support multiple reward types. Over time, users will start to see a broader mix inside the app, including things like Stacked Points and, in some contexts, rewards like USDC. Long-term, we expect PIXEL to become more staking-centric inside the ecosystem. If you follow staking closely, you may have already noticed that Stacked and Chubkins are now visible in the staking system, and that USDC support for staking rewards is live as well! That is not accidental. It reflects where things are heading: from one game and one token loop, toward a wider ecosystem where staking connects to more surfaces over time. We’ll share more specifics around staking and ecosystem reward evolution separately as those pieces are ready. What Pixels is doing now We are still building games. That part has not changed. Pixels is still core to what we do. Pixel Dungeons is a big focus. Sleepagotchi is part of the ecosystem. Chubkins has been built from day one with this reward system in mind. What is changing is how we think about all of these products together. We are no longer thinking about them as isolated titles. Stacked is the shared rewards layer across the $PIXEL ecosystem. That means: More shared identity across gamesMore ways for players to earnBetter matching over timeMore room for creator and social loopsMore learnings flowing across titlesAnd a stronger foundation for everything we build next The Pixels ecosystem started with one game. It is becoming something much bigger than that. And Stacked is a big part of that next chapter. How to access Stacked 🔗 App for players: app.stacked.xyz 🔗 Website for players: stacked.xyz 🔗 For studios: stacked.xyz/business More to share as the product grows and new updates roll out. For now, we’re excited to finally show people what we’ve been building. Welcome to Stacked.
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