The post Morgan Stanley’s E-Trade To Consider Crypto Trading Services appeared first on Coinpedia Fintech News
In the latest development, Morgan Stanley’s E-Trade is reportedly considering offering crypto trading services. The firm’s online stock trading company is considering the idea, as per a report from The Information.
The decision to explore cryptocurrency services is linked to the expected return of US President-elect Donald Trump. Notably, the crypto industry anticipates that the Trump administration will likely bring favorable regulation to the crypto sector. Institutions like Morgan Stanley are among those who are likely to benefit from these changes.
This decision would see the Morgan Stanley company take on the likes of Coinbase and traditional cryptocurrency exchanges and would turn out to be a massive entry point for mainstream investors interested in trading these assets.
Morgan Stanley has shown strong support for crypto, disclosing ownership of $272 million in spot Bitcoin ETFs by the end of Q3. While it made up only 2% of the firm’s $1.3 trillion assets, it was a significant bet. This investment paid off, as BlackRock’s iShares Bitcoin Trust (IBIT) was later hailed as the greatest ETF launch in history.
2024 was a landmark year for the cryptocurrency industry, which witnessed the successful launch of Bitcoin ETFs in January. Later, Bitcoin made history by becoming the first digital asset to reach a six-figure price.
