Morgan Stanley is considering adding cryptocurrency trading to its E-Trade platform, driven by expectations of a more crypto-friendly regulatory environment under President-elect Donald Trump. Trump has indicated plans to appoint leaders favorable to the crypto industry and aims to establish the US as the world’s crypto capital. If implemented, E-Trade could significantly enhance competition in the crypto trading space, competing with platforms like Coinbase. Morgan Stanley, which acquired E-Trade in 2020, manages vast assets across millions of accounts. The brokerage has already engaged in the crypto market by recommending Bitcoin ETFs to clients, including BlackRock's and Fidelity's offerings. Other traditional brokerages such as Robinhood, Fidelity, and Charles Schwab are also expanding their crypto services, signaling a growing trend among established financial institutions. Crypto trading has proven lucrative for these brokerages, with Robinhood reporting substantial year-on-year growth in its crypto trading volume. Overall, Morgan Stanley's potential move reflects a broader adoption of cryptocurrencies in traditional finance.

Source 🔗