That Major Bank Is Entering the Cryptocurrency Market: Here’s What You Need to Know!

#MorganStanley is preparing to join other leading banks in the cryptocurrency space. The bank is exploring crypto trading through its E-Trade platform. The pro-crypto stance of former President Trump is driving US banks toward crypto adoption, and Morgan Stanley is taking the lead with E-Trade.

E-Trade, traditionally focused on stocks, bonds, and ETFs, is now expanding its offerings to include cryptocurrency trading services. This move demonstrates Morgan Stanley's commitment to meeting market demand. The potential shift is seen as significant, especially with expectations of a more crypto-friendly regulatory environment in the US under Trump’s influence. His campaign pledged to appoint pro-crypto officials and even create a Bitcoin reserve in the US, further encouraging the sector.

Morgan Stanley acquired E-Trade for $13 billion in 2020, aiming to enhance its asset management business and access E-Trade’s client base. With crypto trading now part of the mix, millions of clients will be able to engage directly with the crypto market.

This move reflects the growing institutional interest in cryptocurrencies, as Morgan Stanley previously started offering its high-net-worth clients access to spot Bitcoin ETFs. Other established financial institutions, like Goldman Sachs, are also eyeing the crypto space, contingent on clearer policy directions. Meanwhile, companies like Grayscale and Bitwise have applied for approval to offer ETFs tied to cryptocurrencies beyond #Bitcoin and #Ethereum.