Morgan Stanley Plans to Offer Cryptocurrency Trading on E*Trade
Morgan Stanley (MS) plans to integrate cryptocurrency trading into its E*Trade platform, potentially launching in 2024. This is a significant step for a major U.S. bank to provide retail access to cryptocurrencies.
Key points include:
- The initiative is in early development stages and may involve partnerships with crypto firms for infrastructure support.
- This expansion would enhance Morgan Stanley's current crypto offerings, which include ETFs, options, and futures for affluent clients.
- Increased competition could arise for crypto exchanges like Coinbase and Kraken.
- Other institutions, such as Charles Schwab, are also exploring spot trading opportunities, while SoFi is considering a return to the crypto market.