Morgan Stanley is planning to introduce cryptocurrency trading on its E*Trade platform next year, according to a Bloomberg report. This move capitalizes on recent deregulation efforts. The banking giant aims to allow customers to buy and sell cryptocurrencies directly. The initiative marks a significant step for Morgan Stanley, enhancing its financial offerings. The firm is reportedly considering partnerships with digital asset companies to build the necessary trading infrastructure. E*Trade, acquired by Morgan Stanley in 2020 for $13 billion, serves over 5 million users. The platform currently offers access to Bitcoin and Ethereum through ETFs, but not direct investment. This decision aligns with a Federal Reserve move to rescind guidance cautioning banks against crypto engagement. President Trump aims to establish the U.S. as the "crypto capital of the world." The total crypto market capitalization is approaching $3 trillion, a two-month high. Bitcoin is currently trading near $96,865, signaling renewed institutional and retail interest.
Morgan Stanley to Offer Crypto Trading on E*Trade Amid Regulatory Shift
Edited by: Yuliya Shumai
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