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BlackRock and Morgan Stanley square off in Bitcoin ETF ‘fee war’

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BlackRock and Morgan Stanley square off in Bitcoin ETF ‘fee war’

  • 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.

He is not the only one to take notice.

“Fee wars are part of life in the Terrordome = hell for issuers, but heaven for investors,” Eric Balchunas, analyst at Bloomberg Intelligence, tweeted.

Morgan Stanley adding a Bitcoin ETF to its $6.2 trillion brand adds another signal that financial institutions are warming up to crypto and blockchain technology.

It comes on the back of US President Donald Trump signing several pro-crypto executive orders and shepherding industry-friendly regulations into existence in order to make the US “the crypto capital of the planet.”

A $7 trillion advantage

Morgan Stanley’s edge isn’t price, however. It’s distribution.

The company has around 16,000 financial advisers that manage nearly $7 trillion in client assets. Until Wednesday this week, those advisers weren’t directly recommending Bitcoin. Now they can, and their clients are keen.

Just yesterday, investors ploughed $33 million into the fund. At that pace, Edelman projects, Morgan Stanley could pull in $7 billion in year one.

“This will likely lead to a price war as the other ETF providers are forced to respond,” Edelman told DL News. “It will also force all the other brokerage firms to engage — to avoid losing clients and assets under management to Morgan Stanley.”

That’s exactly what happened when Vanguard slashed index fund fees in the 1990s, triggering a decades-long race to zero that reshaped asset management. Bitcoin ETFs could follow the same script.

Budapest,,Hungary,-,July,31,,2025:,Morgan,Stanley,Financial,Advisors

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.

Bitcoin to benefit

Even 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.

“This flywheel is just starting to spin,” he said.

Pedro Solimano is a markets correspondent with DL News. Got a tip? Email him at psolimano@dlnews.com.

Distributed Tokenized RWA Market to Hit $400B by 2030: Keyrock, Securitize

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Distributed Tokenized RWA Market to Hit $400B by 2030: Keyrock, Securitize

RWA perpetuals tied to assets like gold, silver and oil, grew 40x in six months, the new report shows.

Market maker Keyrock and tokenization platform Securitize published a new report on the future of real-world asset (RWA) tokenization today, April 9. According to the research, the distributed RWA market — meaning tokenized assets that are freely transferable on-chain — is projected to grow from around $29 billion today to $400 billion by 2030 as a base case, an over 1,000% increase.

The joint report also flags perpetual futures as the fastest-growing on-chain channel for RWA exposure, already on track to dominate derivatives by 2028.

The report, titled “The $400T Future of Tokenised Assets,” covers five RWA classes — Treasuries, private credit, equities, commodities, and alternative funds — and maps the regulatory, liquidity, and infrastructure conditions needed for each to scale.

Today, tokenized RWAs represent less than 0.1% of the $400 trillion global market that is eligible for tokenization, per the report. In the base case, Keyrock and Securitize project the broader market of blockchain-tracked RWAs, often referred to as represented RWAs, hitting $5 trillion by 2030.

Equities represent the largest notional upside, while Treasuries are positioned to lead in the near term, scoring highest in the report’s “readiness framework,” which grades asset classes across standardization, liquidity, valuation frequency, redemption speed, regulatory clarity, and on-chain demand.

Demand for RWA Perps

RWA perps, namely perpetual futures tied to commodities like oil, gold and silver, have surged in popularity in recent months, driven by broader adoption of on-chain derivatives and demand for 24/7 macro exposure. Geopolitical tensions and, more recently, an escalating war in the Middle East, have likely contributed to short-term spikes in trading activity.

The new report found that RWA perpetual volumes grew 40x in six months to $67 billion in monthly volume, even as volumes across the broader on-chain derivatives market fell by half.

Specifically, RWA perps jumped from 0.1% to 10.1% of all on-chain derivatives volume since October 2025, the report states. At the current pace, the report projects RWA perps could account for 50% of all on-chain derivatives volume by 2028.

The engine behind that growth is largely Hyperliquid’s HIP-3 upgrade, which launched in October 2025 and enables permissionless deployment of perpetual futures markets.

Monthly equity perp volume on HIP-3 grew from $760 million in October 2025 to $20 billion by last month, per the report. Commodity perps — spanning gold, silver, copper, oil, and others — hit $40 billion in March alone. The report frames perps not as a workaround but as a crypto-native evolution of tokenization: synthetic exposure to real-world assets without the compliance overhead of direct ownership.

Treasuries vs DeFi Yield

The report also highlights yield on tokenized Treasuries, especially against the backdrop of waning DeFi yields. Per the report, tokenized T-bills have paid more than DeFi’s benchmark stablecoin lending rate on 64% of all days since mid-2024. In Q1 2026 alone, that figure reached 98% — with 3.6x lower yield volatility than DeFi lending rates over the same period.

Keyrock and Securitize identify 2027 as the first year where regulation, market depth, liquidity infrastructure, and distribution are likely to mature simultaneously — a “convergence window” they say will concentrate growth in whichever asset classes hit all four milestones first.

The findings arrive as institutional pressure on tokenization intensifies. The IMF recently argued that tokenization represents a “structural shift in financial architecture,” while The Defiant has previously reported on how RWAs became Wall Street’s gateway to crypto in 2025 and tokenized assets’ shift from wrappers to DeFi building blocks.

This article was written with the assistance of AI workflows. All our stories are curated, edited and fact-checked by a human.

Institutions’ bitcoin positioning lacks conviction; CPI, Iran talks might help

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Institutions’ bitcoin positioning lacks conviction; CPI, Iran talks might help

Bitcoin’s BTC$72,243.52 price may have rallied almost 7% since Sunday, but conviction remains weak, with the recovery stalling near $72,000 ahead of key binary risks, including Friday’s U.S. inflation report and U.S.-Iran truce talks this weekend.

The cautious approach is evident in the options market, where institutions continue to chase upside via calls, the derivative contracts that allow traders to bet on gains of the underlying asset.

According to QCP Capital, options tied to BlackRock’s spot bitcoin ETF (IBIT) show demand for the $45 call expiring in May. That means traders expect IBIT’s price to rise above that level from the present $40. Bitcoin options on Deribit have seen similar flows, with the $80,000 call emerging as the most popular bet. Still, demand for puts, which offer downside protection, persists.

“IBIT options showed sustained open interest in the May 45 call, holding above 80k+ contracts through the week, while downside hedging remained in place via puts and long-dated protection. The combination reflects a market participating in upside, but not abandoning hedges,” the Singapore-based trading firm, which is one of the world’s largest crypto market makers, said in an email.

The sticky demand for protection against declines is also revealed in options skew, which measures the price differential between calls and puts, and remains negative across all time frames. That indicates a lingering bias for put options.

“The skew picture is clear: institutions are buying downside protection and selling upside calls. After the Iran war headlines, some of the tail risk has been priced out, so skew has eased, but the underlying flow remains firmly one-directional. Demand for puts, supply of calls,” Maxime Seiler, CEO of STS Digital, a principal trading firm specializing in digital asset derivatives, told CoinDesk.

The U.S. consumer price index (CPI) for March is expected to show a marked increase in annualized inflation to well over 3%, led primarily by rising energy prices.

That shouldn’t come as a surprise, given that the Iran war led to a sharp surge in oil and gasoline prices worldwide. Still, markets may see volatility if the core figure, which excludes food and energy, blows past the annualized 2.7% estimate. That would further cement the case for Fed rate increases, potentially weighing on risk assets such as BTC.

Beyond CPI, the weekend meeting between Iranian and U.S. delegates in Pakistan holds the key to financial market stability. BTC’s rally will likely accelerate if they find a way to end the war and normalize oil tanker traffic through the Strait of Hormuz. The first cues could come through Hyperliquid-listed oil perpetual futures. Stay alert!

What’s trending

Today’s signal

Swings in the MOVE index since June 2025. (TradingView)
The MOVE index has reversed the early March pop. (TradingView)

The chart shows swings in the ICE BofA US Bond Market Option Volatility Estimate Index (MOVE), which reflects volatility in U.S. Treasury futures.

Sharp spikes in the index indicate rising uncertainty around inflation, interest rates or macro shocks. Treasury notes anchor the global finance and collateral and credit creation. Hence, increased turbulence in U.S. bonds often coincides with tighter financial conditions and broader risk-off sentiment spilling into equities, credit, and crypto markets.

The index popped in March, rising to 115% from 73% only to drop back to 74% this month. It showed that the world’s most important bond market is calm again, a green signal for crypto bulls.

Read more: For analysis of today’s activity in altcoins and derivatives, see Crypto Markets Today .

For a more comprehensive list of events this week, see CoinDesk’s “Crypto Week Ahead”.

Premarket data (CoinDesk)

Bitcoin Braces For Quantum Shock — Inside Two Radical New Rescue Plans

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Bitcoin Braces For Quantum Shock — Inside Two Radical New Rescue Plans

Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

Multiple devs and founders have been talking publicly about concrete post‑quantum paths for Bitcoin. Two different proposals have caught the crypto world’s attention.

Bitcoin’s Net-Watchers Start Building Their Blackwall

The ticking clock marking 2029 as the possible “deadline” for quantum computers to be able to break Bitcoin and Ethereum’s cryptography has made devs roll up their sleaves and get to work.

The recent spike of the Bitcoin quantum-panic or “quantum FUD” (fear, uncertainty and doubt) has moved on from the initial chaos that ensued following Google’s “doomsday” whitepaper to a race against an enemy that doesn’t yet exist. In the past days, two Bitcoin devs landed at different proposals aimed to protect Bitcoin from the future threat of quantum attacks.

One of them consists in a “Taproot kill‑switch + zk‑proof recovery” path for existing UTXOs (Unspent Transaction Outputs). The other is a QSB (Quantum Safe Bitcoin), a transaction‑level construction that makes individual spends quantum‑safe today without any soft fork (rule changes that stay compatible with old software).

Both approaches assume Shor‑style quantum computers (quantum computers based on Shor’s algorithm) will nuke the math behind Bitcoin’s current signatures (ECDSA/Schnorr), but they differ on how much of Bitcoin needs to change: consensus rules vs user‑level tooling.

Let’s examine both proposals closely.

Solution #1

The first solution comes from Olaoluwa Osuntokun, co‑founder and CTO of Lightning Labs (the main company building the Lightning Network implementation) and Tim Ruffing, co‑author and contributor on Schnorr/Taproot, multisignature schemes like MuSig2 and a maintainer of Bitcoin’s core elliptic‑curve library.

On a post made on the social media X on April 8, Osuntokun resurfaced Ruffing’s July 2025 whitepaper on Bitcoin’s post-quantum security in order to propose a solution for one of the problems presented in the paper: “to create a variant of seed-lifting that doesn’t reveal the wallet’s master secret”. He called this “zk-STARK proof”.

In plain language, Osuntokun’s tool creates a special cryptographic proof (the zk‑STARK) that lets you prove you really have the original wallet secret behind a given Taproot address, and that you used the standard wallet rules to get from that secret to this address. They crucial aspect of the zk-STARK proof is that it does this without ever revealing the secret itself, or any private keys, to anyone.

If, in the future, Bitcoin does a quantum‑defense soft fork that disables normal key‑based spends, many BIP‑86 Taproot wallets could be stuck and unable to move coins. With this proof, those users get an extra “escape hatch”: they can prove ownership of their Taproot coins via the seed‑derivation proof and move funds in a new, quantum‑safe way, even though the old key‑spend path is turned off.

He discussed all the technicalities behind this on the Bitcoin dev mailing list.

The solution has found acceptance, and it’s been generally received very well in the crypto community.

Solution #2

The second, and more polemic solution, comes from Avihu Mordechai Levy, a cryptography engineer at StarkWare who works on zero‑knowledge proofs and STARKs. His whitepaper, published yesterday, shows how to make individual Bitcoin transactions quantum‑safe today, using Lamport‑style one‑time signatures plus a “hash‑to‑signature” proof‑of‑work puzzle, with zero changes to Bitcoin’s base protocol.

QSB replaces the old signature‑size PoW (which quantum attacks could completely break by finding tiny ECDSA r‑values) with a RIPEMD‑160‑based puzzle that only relies on hash pre‑image resistance, which is merely weakened, not destroyed, by Grover’s algorithm (quantum tech).

Again in plain language, what QSB does is it throws away the old “make the signature tiny” proof‑of‑work trick, because a strong quantum computer could cheat that by exploiting the elliptic‑curve math. Instead, QSB uses a new puzzle built on the RIPEMD‑160 hash function. Breaking a hash like that is extremely hard, even with a quantum computer.

QSB fits in legacy script limits and gives around 118‑bit post‑quantum pre‑image security. However, it costs hundreds of dollars in off‑chain GPU work per transaction and requires non‑standard bare scripts mined via private relay services. This is why many are calling QSB a “last resort” or even a “whale-grade band-aid”.

A Philosophical Split

The community is no longer arguing if quantum breaks ECDSA/Schnorr, but how to stage an orderly migration. Let’s remember that the creator of Bitcoin, Satoshi Nakamoto himself, assured in 2010 that a gradual transition to post-quantum, stronger technology, was possible for Bitcoin.

Bitcoin, Satoshi Nakamoto, Quantum Threat

A post from Satoshi Nakamoto regarding the quantum threat for Bitcoin. Source: Bitcoin Magazine on X.

Taproot‑based recovery tries to protect the entire UTXO set with minimal value destruction, whereas some prominent voices still argue non‑migrated coins should simply expire rather than be “rescue” in weird ways, to preserve Bitcoin’s monetary story.

Bitcoin, BTC, BTCUSD

At the moment of writing, BTC trades for the high $71ks on the daily chart. Source: BTCUSD on Tradingview.

Cover image from Perplexity. BTCUSD chart from Tradingview.

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.

Australia’s Own Impact Analysis Undercuts Landmark Gambling Ad Crackdown as New Zealand Delays Similar Action – iGaming Bitcoin News

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Australia’s Own Impact Analysis Undercuts Landmark Gambling Ad Crackdown as New Zealand Delays Similar Action – iGaming Bitcoin News

Key Takeaways:

  • Australia’s OIA projects ad restrictions will cut gambling spending by AUD 62.7M, or 0.8 percent
  • A full ban the government rejected would have reduced losses by 1.4 percent per year
  • New Zealand’s DIA says it will monitor Australia’s reforms before pursuing similar restrictions

A Sweeping Package That May Not Satisfy Any Stakeholder

The Office of Impact Analysis published its 48-page assessment on April 7, nearly three years after a parliamentary inquiry led by the late Labor MP Peta Murphy recommended a comprehensive ban on online gambling advertising. Prime Minister Anthony Albanese unveiled the government’s alternative – a partial package of restrictions – at the National Press Club on April 2. The measures are set to take effect January 1, 2027.

The OIA report found the government’s preferred option would lower annual gambling expenditure by AUD 62.7 million ($44.3 million), or 0.8 percent of the AUD 32.2 billion Australians lost on legal gambling in 2023-24. A full ban, as Murphy’s committee recommended, would have reduced spending by another 0.6 percent. The OIA acknowledged the full ban carried “a higher net benefit” but said it would impose a heavy financial burden on media organizations and grassroots sport.

Under the new rules, television gambling advertisements will be capped at three per hour between 6 a.m. and 8:30 p.m. and banned entirely during live sports broadcasts in this window. Radio ads will also be prohibited during school drop-off and pick-up periods. Celebrities, athletes and public figures will be barred from appearing in wagering promotions, and gambling branding will be removed from sports venues and player uniforms.

The reforms also introduce a “triple-lock” system for online platforms: gambling ads will be banned by default unless the user is logged in, verified as over 18 and given the option to opt out. The OIA confirmed to Guardian Australia that this rule extends to streaming services, podcasts, social media, app stores and the official websites and apps of the AFL and NRL.

The analysis identified 2,461 industry stakeholders affected across wagering operators, broadcasters, digital platforms and podcasters, with an estimated regulatory cost of AUD 10 million per year — roughly a sixth of the expected reduction in gambling expenditure.

Reaction has been polarized. Responsible Wagering Australia CEO Kai Cantwell described the announcement as “a real kick in the guts for the industry” and warned that the measures set “a dangerous precedent.” On the other end of the spectrum, the Alliance for Gambling Reform’s chief advocate, Tim Costello, called it a “timid response,” arguing the opt-out model places the burden on parents rather than companies.

The Australian Medical Association’s vice president, Julian Rait, said partial bans are insufficient. Independent MP Kate Chaney characterized the package as “tinkering around the edges of meaningful reform.”

In the end, the proposed changes may leave all parties unsatisfied.

The Australian debate is being closely tracked in New Zealand, which shares a deeply intertwined sports broadcasting market and faces its own parliamentary showdown regarding gambling regulation. New Zealand’s Department of Internal Affairs told the NZ Herald on April 8 that it is monitoring Australia’s approach but does not plan to adopt similar advertising restrictions immediately.

The department’s priority remains the Online Casino Gambling Bill, expected to pass in May 2026, which would bring the country’s currently unregulated online casino market under local oversight through a licensing system capped at 15 operators. A DIA spokesperson said the Minister for Racing intends to observe how Australia’s system performs before considering further regulation in the harm minimization area.

New Zealand’s Advertising Standards Authority processed 955 gambling-related complaints in 2025 and is reviewing its code of conduct later this year.

The OIA report drew on prevalence data from the Australian Gambling Research Centre, which found the proportion of Australians at risk of gambling harm rose from 11 percent in 2019 to 15 percent in 2024. Wagering losses have grown from AUD 3 billion (16 percent of total gambling losses) in 2010-11 to AUD 8.4 billion (26 percent) in 2023-24. The social cost of gambling in Victoria alone was estimated at AUD 14.1 billion the year prior.

PM Albanese’s legislation is expected to be introduced to parliament in May.

Revolut Secures key Regulatory Approval in Peru, Moving to Formally Incorporate as a Bank

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Revolut Secures key Regulatory Approval in Peru, Moving to Formally Incorporate as a Bank

Revolut, the global fintech boasting over 70 million customers worldwide, has officially been granted an Organisation Authorisation by the Superintendency of Banking, Insurance and AFP (SBS) of Peru.

The authorisation is a critical step in the company’s banking licensing process within the region. With this major regulatory milestone secured, Revolut is now actively set to become the very first fully digital bank authorised in Peru.

The path to a full operational launch

The newly granted authorisation allows Revolut to formally incorporate as a banking entity in the country. This marks the vital first stage before the company undergoes a mandatory supervisory inspection, which is required to secure the final ‘Functional Authorisation’ needed for a full operational launch.

According to the fintech, the granting of the Organisation Authorisation crystallises a firm commitment to delivering a world-class financial ecosystem to Peru’s dynamic and increasingly digital-first population.

Furthermore, by securing the license, Revolut demonstrates its current operational readiness and the ongoing strength of its local leadership team. This team is specifically tasked with bridging the company’s global technology platform with deep regional expertise to offer highly competitive, transparent, and high-value financial tools to the market.

Solidifying Latin American expansion
Julien Labrot, CEO of Revolut Peru

The move into Peru further solidifies Revolut’s ambitious, broader expansion strategy across Latin America. The country now joins Brazil, Mexico, Colombia, and Argentina as a key growth pillar in the region, supporting the firm’s stated global goal of expanding into 100 markets.

Once the subsequent Functional Authorisation is officially received, Revolut plans to introduce its core banking products and services directly to Peruvian consumers. The company anticipates that its entrance will significantly increase local market competition and actively foster greater financial inclusion across the region’s evolving payment landscape.

Julien Labrot, CEO of Revolut Peru, commented on the significance of the approval.

“Securing our Organisation License is a testament to the efficient regulatory environment in Peru and our team’s dedication to meeting the highest compliance standards,” Labrot stated.

As Revolut moves steadily toward full operational status, the company has confirmed it will continue to scale its local team and infrastructure, working to ensure that its suite of digital-first services is perfectly tailored to the realities of the Peruvian economic landscape.

Quantum-Safe Bitcoin Transactions Need No Protocol Upgrade

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Quantum-Safe Bitcoin Transactions Need No Protocol Upgrade

A Bitcoin researcher has come up with a way that could immediately make Bitcoin transactions quantum-safe without the need for a soft fork. 

In a proposal published Thursday, StarkWare chief product officer Avihu Levy proposed a Quantum Safe Bitcoin (QSB) transaction scheme that he said would remain secure “even against an adversary with a large-scale quantum computer running Shor’s algorithm.” 

He added that the plan requires no changes to the Bitcoin protocol and operates entirely within the existing legacy script constraints. The downside is that it is costly and likely is not useful for everyday transactions, he said. 

The Bitcoin community has been split on how to tackle the quantum problem. QSB presents a temporary solution while a long-term approach is ironed out.

The plan’s main feature is replacing the proof-of-work signature-size puzzle with a hash-to-sig puzzle.

Instead of relying on elliptic curve math that quantum computers can break, the spender must find an input whose hash output randomly happens to resemble a valid ECDSA (elliptic curve digital signature algorithm) signature, requiring brute-force work that even a quantum computer cannot shortcut.

Far more computing power is required for QSB. Source: GitHub

Quantum Safe Bitcoin not practical for everyday use

The proposal comes with caveats. It costs the sender between $75 and $150 per transaction in GPU compute and is more complex than a typical Bitcoin transaction, and thus would only make sense for securing large BTC transactions. 

Related: Bitcoin’s quantum challenges are ‘more social than technical’: Grayscale

“This is huge,” said StarkWare CEO Eli Ben-Sasson, claiming that it essentially makes Bitcoin quantum-safe today. 

Still, Bitcoin ESG specialist Daniel Batten said it was “an overstatement” because exposed public keys and dormant wallets are “not addressed in the paper.”

Batten was referring to an estimated 1.7 million BTC locked in early P2PK addresses that could be cracked by a quantum computer. 

Its existence has led to fierce debate about what to do with the dormant coins, with the community split between leaving Bitcoin as-is to preserve its core ethos, freezing or burning the vulnerable coins entirely or upgrading the protocol to support quantum-safe signatures.

Protocol changes are the preferred solution

The researchers acknowledged that this is a last-resort measure as transactions are non-standard, costs don’t scale to all users and use cases like Lightning Network are not covered.

They concluded that protocol-level changes remain the preferred long-term path.

“While this article describes a solution that works today for quantum-safe Bitcoin transactions, it should be treated as a last-resort measure.” 

Google published a paper in March that unsettled the Bitcoin community as it suggested that a quantum computer could potentially crack Bitcoin’s cryptography using far fewer resources than previously thought.

Meanwhile, Lightning Labs chief technology officer Olaoluwa Osuntokun on Wednesday published a quantum “escape hatch” prototype that enables users to prove Bitcoin wallet ownership from the original seed phrase without revealing it, which could serve as an alternative Bitcoin authorization method.

Magazine: Nobody knows if quantum secure cryptography will even work