Morgan Stanley is considering launching crypto trading via its E-Trade platform amid expectations of favorable regulation under Donald Trump's administration.
Morgan Stanley's plans in the crypto industry
E-Trade, owned by Morgan Stanley, is evaluating the possibility of offering cryptocurrency trading services. This move is linked to financial institutions' expectations that Donald Trump's administration may introduce favorable regulations for the crypto industry.
Financial support for crypto assets
Morgan Stanley has shown strong support for cryptocurrencies, evidenced by their $272 million investment in spot Bitcoin ETFs by the end of Q3 2023. Though this represented only 2% of the firm’s $1.3 trillion assets, this investment established the company as a key player in the crypto sector.
Crypto market development in 2024
2024 was a landmark year for the cryptocurrency industry with the successful launch of a Bitcoin ETF in January. Later, Bitcoin made history by becoming the first digital asset to reach a six-figure price.
Morgan Stanley's decision to explore crypto trading via E-Trade underscores major financial institutions' growing interest in digital assets, which could lead to significant shifts in the industry.
