E-Trade, the online brokerage division of Morgan Stanley, is considering offering crypto trading services. So far, it’s unclear when these changes would be implemented or how comprehensive they might be.
The company is considering this bold move given Donald Trump’s recent election victory and the pro-crypto regulatory progress expected under his administration.
Morgan Stanley Wants a Slice of the Lucrative Crypto Trading Market
According to reports, Morgan Stanley is eager to enter the crypto trading services market, given the growing adoption of digital assets across industries.
The company has always had a bullish view on Bitcoin, but its actions this year have been defined by indirect access to it. If it moves forward with this E-Trade plan, it would mark a significant new expansion.
For example, Morgan Stanley has pushed crypto ETFs hard this year, assembling an army of 15,000 brokers to help promote them. It has allowed wealth advisors to offer Bitcoin ETFs and has even invested nearly $300 million in them as of October.
However, this plan is still in the exploratory phase. E-Trade’s investment options list only mentions indirect exposure to cryptocurrency and advertises this type of access. If this plan goes ahead, Morgan Stanley would substantially change its existing relationship with crypto offerings.
E-Trade’s current crypto offerings. Source: Morgan Stanley
This policy reversal appears to come from one place: an expectation of beneficial regulations for crypto. Donald Trump’s recent election victory has brought a bull market to the crypto industry, and the company is betting that he will bring more positive news. Trump has promised to bring large-scale changes to crypto regulation, and E-Trade could benefit from that.
In fact, even if Morgan Stanley intends to go ahead with this plan, it is still in the early stages. The firm is only exploring the feasibility of direct crypto offerings, and it will take time to develop and implement the details.
However, Trump's term begins in less than a month, and that could provide a powerful incentive for the launch.
The article Morgan Stanley Considers Direct Crypto Services via E-Trade appeared first on BeInCrypto Brasil.