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Home” Business” Morgan Stanley’s E-Trade prepares to use crypto trading as Trump administration signals pro-crypto position
by
Vivian Nguyen
Jan. 2, 2025
The company’s possible entry into digital properties market might challenge recognized crypto exchanges like Coinbase.
Image: Morgan Stanley
Secret Takeaways
- E-Trade prepares to use direct crypto trading amidst regulative optimism under Trump.
- The relocation would place E-Trade as a significant gamer in digital property trading.
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E-Trade, Morgan Stanley’ s online brokerage department, is checking out strategies to release crypto trading services amidst expectations of a more beneficial regulative environment under the Trump administration, The Information reported Thursday, mentioning sources knowledgeable about the matter.
A recognized gamer in the online brokerage market, E-Trade does not use direct crypto trading services.
The company presently provides indirect direct exposure to digital properties 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 obtained E-Trade in late 2020 through an all-stock offer valued at $13 billion, intending to reinforce its wealth management company. The addition of E-Trade’ s significant customer base and possessions under management was meant 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 property trading area, developing direct competitors with recognized crypto exchanges like Coinbase.
The relocation was revealed amidst the pattern of institutional adoption of crypto properties. 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 verified the timeline for the prospective crypto trading rollout through its E-Trade platform.
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