E-Trade, the online stock trading arm of Morgan Stanley, which has $1.6 trillion in assets under management, plans to add cryptocurrency trading to its platform.
E-Trade is reportedly considering adding crypto trading to its platform in anticipation of a more regulatory environment for cryptocurrencies under the new Donald Trump administration, according to The Information, according to two sources familiar with the company’s plans.
E-Trade is a subsidiary of Morgan Stanley that provides investment brokerage and electronic trading services. The platform is known for facilitating access to traditional investment vehicles, but has begun to consider expansion opportunities in the crypto trading space amid growing interest in the field.
The prospect of the Trump administration taking a friendlier regulatory approach to cryptocurrencies is causing major financial institutions to rethink their strategies in the space. E-Trade’s move shows that cryptocurrencies are increasingly being adopted in the mainstream financial world, and that major players are preparing to enter the space.
Stay tuned.