Financial services giant Morgan Stanley’s online brokerage and banking platform is reportedly going to offer crypto trading starting next year.
According to a new report by Bloomberg, prompted by President Donald Trump’s pro-crypto actions and statements, anonymous sources familiar with the matter say that Morgan Stanley plans to incorporate digital assets into its online service platform E-Trade by 2026, though no specific date was mentioned.
Though the plans are still in their early stages, Morgan Stanley is weighing its options in terms of which crypto firms to partner up with. If the firm follows through, it would mark the biggest move yet by a banking institution to offer crypto assets – including the top two digital assets by market cap Bitcoin (BTC) and Ethereum (ETH) – directly to retail investors.
Currently, Morgan Stanley only offers digital asset products, such as exchange-traded funds (ETFs), options and futures contracts, to its wealthier clients, according to the report.
Earlier this year, Trump made key moves for the crypto industry, such as signing an executive order to create a strategic BTC reserve, loosening regulatory pressure on the industry from the U.S. Securities and Exchange Commission (SEC), appointed a “crypto czar,” and pushed for Congress to create clear guidelines for crypto assets.
Other major banking institutions, such as SoFi, have signaled that they may follow Morgan Stanley and directly offer crypto assets on their retail trading platforms.
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