Morgan Stanley is reportedly planning to launch cryptocurrencies on its E-trade platform. According to a report by The Information, Morgan Stanley is thinking about integrating cryptocurrency trading into its e-trade platform.
The move comes with the backdrop of a rise in demand for digital assets globally amid optimism around the upbeat future trajectory of virtual assets.
The move also comes as the entire crypto market has seen a rally in the prices post the US 2024 elections. At present, it is anticipated that 2025 might see positive global reforms regarding the crypto world, making Morgan Stanley’s step largely in tandem with market expectations.
Morgan Stanley’s Previous Bid To Introduce Digital Assets
Today move comes after Morgan Staley had previously made a bid to introduce Bitcoin ETFs for its customers. One of the biggest wealth management companies in the world, Morgan Stanley, had announced that it will soon permit its financial advisors to provide Bitcoin ETFs to a limited number of clients.
As UnoCrypto reported earlier, the bank had notified its roughly 15,000 financial advisors that commencing they will have the authority to encourage qualified customers to buy shares of two bitcoin ETFs: Fidelity’s Wise Origin Bitcoin Fund and BlackRock’s iShares Bitcoin Trust.
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Morgan Stanley Mulls Digital Asset Expansion Since 2021
It is likely that a growing client demand and the bank’s desire to keep abreast of the rapidly evolving digital asset market had prompted it to explore the route of digital assets.
Morgan Stanley’s involvement in cryptocurrencies began in 2021, when the company formed an internal team devoted to digital assets during a notable bull run. But their euphoria was momentarily dampened by the ensuing bear market.
Morgan Stanley kept a tight eye on the cryptocurrency market in spite of this, and by August 2022, they were openly talking about the possible bear market bottom and the start of a new market cycle.
Morgan Stanley’s Move Comes Crypto Market Paces For Coming Rise
In line with the larger market, MS’s decision to enter the digital asset world comes as most investors, analysts, and even the larger market expect crypto and especially Bitcoin to rise in the future.
Just in the trading day, famous author Robert Kiyosaki of “Rich Dad Poor Dad” made waves for his audacious 2025 Bitcoin price estimate. Within the next two years, Kiyosaki predicted that the price of Bitcoin would fluctuate significantly from $175,000 to $350,000 through his official X account.
At preset many financial institutions are exploring the path to digital assets, making it evident that the gap between crypto and traditional financial markets is slowly closing.
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