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Home” Business” Morgan Stanley’s E-Trade prepares to use crypto trading as Trump administration signals pro-crypto position
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Vivian Nguyen
Jan. 2, 2025
The company’s possible entry into digital properties market might challenge recognized crypto exchanges like Coinbase.
Image: Morgan Stanley
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E-Trade, Morgan Stanley’ s online brokerage department, is checking out strategies to introduce crypto trading services in the middle of expectations of a more beneficial regulative environment under the Trump administration, The Information reported Thursday, mentioning sources acquainted with the matter.
A recognized gamer in the online brokerage market, E-Trade does not provide direct crypto trading services.
The company presently provides indirect direct exposure to digital possessions through financial investment items such as futures, ETFs, and stocks associated with crypto possessions. These consist of Grayscale Bitcoin Trust (GBTC) and ProShares Bitcoin Strategy ETF (BITO), among others.
Morgan Stanley got E-Trade in late 2020 through an all-stock offer valued at $13 billion, intending to reinforce its wealth management service. The addition of E-Trade’ s considerable customer base and properties under management was planned to boost Morgan Stanley’ s existing wealth management operations.
If executed, the relocation would develop E-Trade as one of the biggest standard banks to get in the digital possession trading area, developing direct competitors with recognized crypto exchanges like Coinbase.
The relocation was revealed in the middle of the pattern of institutional adoption of crypto possessions. Morgan Stanley, in August 2024, revealed that choose customers with a net worth of a minimum of $1.5 million might access area Bitcoin ETFs through its monetary consultants.
Morgan Stanley has not formally validated the timeline for the prospective crypto trading rollout through its E-Trade platform.
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