That Giant Bank Is Also Entering the Cryptocurrency Market: Here Are the Details!

#MorganStanley is preparing to join major banks in the cryptocurrency market. In this context, the bank is exploring crypto trading through E-Trade. Trump's pro-crypto stance is accelerating the transition of US banks to crypto. The giant bank is pioneering this area through E-Trade.

Morgan Stanley's E-Trade includes traditional securities including stocks, bonds and ETFs. However, Morgan Stanley aims to expand its product range by introducing cryptocurrency trading services. It also shows that it is willing to meet market demands. The market is expecting a friendlier regulatory environment in the US under the Donald Trump administration. Therefore, the potential move is quite significant. The sector received an incentive from Trump's campaign, where he promised to appoint strict pro-crypto officials and even launch a Bitcoin reserve in the US.

Morgan Stanley acquired E-Trade in a deal worth $ 13 billion in 2020. This move was to develop the asset management business with the use of many of E-Trade’s clients. With the cryptocurrency trading integration, it will create a possibility for millions of clients to interact directly with the crypto market.

Morgan Stanley’s E-commerce action reflects the ongoing trend of institutions interested in cryptocurrencies. Last year, Morgan Stanley began providing its high-net-worth clients with access to spot Bitcoin ETFs, supporting the growing interest of traditional investors in digital assets.

Other legacy institutions such as Goldman Sachs have also expressed interest in the crypto market. However, this depends on a clear policy direction. At the same time, as you follow on Kriptokoin.com, Grayscale and Bitwise have applied for approval to invest in ETFs tied to cryptocurrencies other than #Bitcoin and #Ethereum .