Morgan Stanley Considers Introducing Cryptocurrency Trading on E*Trade, Reports Bloomberg

Morgan Stanley is set to introduce cryptocurrency trading on its E*Trade platform, representing a significant advancement from a leading U.S. bank in providing retail investors with direct access to digital currencies.

Currently in the preliminary phases, this initiative might launch as early as next year. The bank is reportedly considering collaborations with existing cryptocurrency firms to develop the necessary infrastructure for engaged trading.

This move indicates a considerable increase in the bank’s cryptocurrency offerings, which presently include exchange-traded funds (ETFs), options, and futures contracts aimed at affluent clients. Internal discussions reportedly intensified following regulatory changes that emerged during Donald Trump’s tenure as President.

How Morgan Stanley implements cryptocurrency trading on E*Trade may ultimately escalate the competition in the market with established crypto exchanges such as Coinbase and Kraken.

Other financial institutions also reflect a growing interest. Charles Schwab has indicated plans to introduce spot trading, while SoFi is contemplating a robust entry into the cryptocurrency sector, influenced by recent shifts in the U.S. financial landscape.