Morgan Stanley’s online brokerage business, E-Trade, is thinking about providing cryptocurrency trading services. It is currently unknown how widespread these modifications might be or when they would be implemented.
Given Donald Trump’s recent election victory and the expected advancements in pro-crypto regulations under his administration, the company is contemplating this audacious action.
Morgan Stanley Wants a Share
Given the increasing use of digital assets in various industries, Morgan Stanely is reportedly keen to get into the crypto trading services business.
Although the company has always been enthusiastic about Bitcoin, its actions this year have been characterized by indirect access to the cryptocurrency. It would represent a major new expansion if it proceeds with this E-Trade scheme.
For instance, Morgan Stanley organized a force of 15,000 brokers to assist in the promotion of cryptocurrency exchange-traded funds (ETFs) this year. By October, wealth planners were able to market Bitcoin ETFs and had invested close to $300 million in them.
This plan is still in the exploring phase, though. E-Trade’s list of investing options only mentions and promotes indirect exposure to cryptocurrencies. This proposal would have a significant impact on Morgan Stanley’s current relationship with cryptocurrency offers.
Morgan Stanley’s @etrade may be jumping into crypto 🌟, spurred by Trump’s crypto-friendly policies. Is the old guard finally embracing the future? 🤔
– Reports say E-Trade mulls offering cryptocurrency services under Trump’s leadership.
– Morgan Stanley’s crypto journey started…— Bitcoin.com News (@BTCTN) January 2, 2025
It appears that the expectation of advantageous crypto rules is the root cause of this policy change. The cryptocurrency business saw a wild bull market following Donald Trump’s recent election victory, and the company is placing bets that he will bring more good news. Trump promised to make significant reforms to the laws governing cryptocurrency, which might help E-Trade.
In the end, this idea is still in its infancy even if Morgan Stanley wants to carry it out completely. The company is merely investigating the viability of direct cryptocurrency offerings; the details will require time to design and execute.
But there might be a strong motivation to start since Trump’s tenure starts in less than a month.
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