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Morgan Stanley Crypto Trading Coming to ETrade
In a significant development, Morgan Stanley is planning to allow its customers to buy and sell real cryptocurrencies like Bitcoin and Ethereum through its E*Trade platform. This move marks a major shift from offering crypto-related products like ETFs and futures to its wealthier clients to providing direct access to these digital assets for all users.
The bank’s plan is still under development, but the goal is to make it available by next year. Morgan Stanley may partner with one or more crypto companies to facilitate this process. Once completed, users will be able to trade cryptocurrencies in a similar manner as they do stocks, effortlessly and from a single platform.
So, what has brought about this change? The answer lies in the significant shift in U.S. cryptocurrency policy under President Donald Trump. His administration issued executive orders supporting digital assets, rolled back strict regulations, and delivered a clear message that crypto is welcome in the U.S. economy. Regulatory bodies like the SEC, Fed, and FDIC have also eased their stance, making it easier for banks to collaborate with crypto companies.
These changes have emboldened major financial institutions, which were initially hesitant about exploring the space due to perceived risks, to start venturing into the cryptocurrency market again. Morgan Stanley is not alone in this endeavor; Robinhood, Coinbase, and even Charles Schwab are also rushing to enter the competitive crypto landscape.
Source: https://coinpedia.org/news/morgan-stanley-crypto-trading-coming-to-etrade/
