Morgan Stanley, one of the world's largest asset managers, is considering adding cryptocurrency trading to its E-Trade online brokerage platform, expecting a friendlier regulatory environment in the US.
Morgan Stanley's Plans
Morgan Stanley reportedly cited expectations of a more crypto-friendly environment under the upcoming US president Donald Trump, who has promised to appoint industry-friendly leaders. These plans could make E-Trade one of the largest traditional brokerage platforms to support crypto trading.
Brokerages embrace crypto
Trading platforms like Robinhood, Fidelity, and Interactive Brokers also offer cryptocurrency trading. Charles Schwab reportedly plans to add crypto trading this year. Crypto trading has been a lucrative business for online brokerages.
Early move by Morgan Stanley
Morgan Stanley has taken earlier steps by allowing its financial advisers to recommend Bitcoin exchange-traded funds to clients. The advisory network manages assets worth $3.75 trillion.
Integrating crypto into the E-Trade platform could be a significant step for Morgan Stanley, providing clients with more opportunities to invest in crypto-assets and responding to growing interest in the sector.
