Daily Market Wrap | Mar. 20

Hot Topics

• Morgan Stanley files an amended S-1 with the SEC for its spot Bitcoin ETF (Morgan Stanley Bitcoin Trust), setting the ticker MSBT on NYSE Arca and planning a $1 million seed investment via 50,000 initial shares.
• Bitcoin OGs dumped over $117M in BTC (1,650+ coins) on March 19, 2026, after the Fed's hawkish stance held rates at 3.5%–3.75% and signaled only one 2026 cut, dashing hopes for faster easing.

Market Updates

• DeFi risk management firm Gauntlet saw its TVL drop 22.84% ($380M erased) over seven days to $1.325B, mainly due to the end of OKX's pre-deposit campaign on Katana blockchain causing stablecoin outflows from incentive-driven vaults.
• Major League Baseball signs a memorandum of understanding with the CFTC for information sharing on prediction market integrity and names Polymarket its exclusive official prediction market exchange partner.