The NYSE welcomes @MorganStanley Investment Management to celebrate the launch of $MSBT, the first spot Bitcoin ETF issued by a major U.S. bank. $MS https://t.co/p9qDovniBQ
NEW: Coinbase and Fannie Mae partner with Better Home & Finance to launch Bitcoin-backed mortgages for U.S. homebuyers.
Borrowers can pledge Bitcoin or USD Coin as collateral for down payments, allowing them to keep their assets and avoid triggering taxable sales.
The loans are structured as conforming mortgages backed by Fannie Mae, meaning they follow standard underwriting rules and carry the same protections as traditional home loans.
The product targets everyday buyers locked out by down payment constraints.
Better says 41% of U.S. families canโt purchase homes due to lack of liquid cash, despite holding savings in other assets.
Rising interest rates and high home prices have tightened affordability.
A buyer targeting a $400K home may struggle to source $40K in cash without selling assets and navigating tax and legal friction.
Coinbase says the offering brings crypto into mainstream housing finance, calling it โas American as apple pie.โ
The 20 millionth Bitcoin was mined yesterday. Now there are only one million new Bitcoins to be mined, which will take over 100 years.
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