"Move by the financial giant in Bitcoin and cryptocurrency"

Morgan Stanley has announced plans to offer cryptocurrency trading through the online brokerage platform E-Trade. This initiative, bolstered by the promise of the newly elected President of the United States, Donald Trump, to implement crypto-friendly regulations, is set to intensify competition in the sector. The company's move signals a significant transformation in financial technologies and investment strategies.

FINANCIAL GIANT MORGAN STANLEY ENTERS THE CRYPTO MARKET WITH E-TRADE

Morgan Stanley is considering starting cryptocurrency trading through the online investment platform E-Trade. According to sources familiar with the matter, the financial giant's decision was influenced by the new President of the United States, Donald Trump's positive approach towards cryptocurrencies. During the election campaign, Trump promised to make America a "crypto hub" and stated that he would appoint crypto-friendly individuals to key positions.

Having acquired E-Trade in 2020, Morgan Stanley aims to bring the platform's 5.2 million accounts and $360 billion in assets under management to the cryptocurrency market. This initiative is particularly noteworthy as a strong competitor to established crypto exchanges like Coinbase.

Cryptocurrency services are becoming increasingly widespread in the financial sector. Following Robinhood, Fidelity, and Interactive Brokers, Charles Schwab also plans to start cryptocurrency transactions within this year. Robinhood increased its cryptocurrency trading volume by 112% to $14.4 billion in the third quarter of 2024, while its revenues rose by 165% to $61 million. The firm also expanded its services for institutional investors by acquiring Bitstamp for $200 million.

Morgan Stanley is in a pioneering position in the sector with its initiatives towards crypto assets. In August, the institution granted its 15,000 financial advisors the authority to recommend Bitcoin ETFs to their clients, drawing attention with its $3.75 trillion asset management network. Advisors are offering clients investment vehicles classified as "blue chip," such as BlackRock's iShares Bitcoin Trust and Fidelity's Wise Origin Bitcoin Fund.