Morgan Stanley‘s E-Trade division is considering adding direct cryptocurrency trading services to its platform. This move comes amid expectations of a more favorable regulatory environment under the Trump administration.
The wealth manager allegedly highlighted anticipation of a more favorable crypto regulatory environment under US President-elect Donald Trump as a key consideration.
E-Trade currently does not offer direct crypto trading. However, Morgan Stanley has shown a growing interest in cryptocurrencies, having previously allowed select clients with a net worth of at least $1.5 million to access spot Bitcoin ETFs through their financial advisors.
If implemented, this move would position E-Trade as a major player in the digital asset trading space, offering its vast customer base access to cryptocurrencies alongside traditional financial instruments. It would also bring E-Trade into direct competition with established crypto exchanges like Coinbase.
The potential introduction of crypto trading services by E-Trade highlights the increasing mainstream adoption of cryptocurrencies and the evolving relationship between traditional finance and the digital asset market.
