A digital asset
investment fund
Viska is an alternative investment fund based in Iceland that invests in digital assets.
Viska is an alternative investment fund based in Iceland that invests in digital assets.
Morgan Stanley is reportedly considering adding cryptocurrency trading to its E-TRADE platform, a move that could significantly impact the crypto market by providing access to digital assets for E-TRADE's 5.2 million accounts.
Morgan Stanley is an investment banking company, headquartered in New York, United States.
Currently, it appears that E-TRADE only offers indirect exposure to cryptocurrencies through products like futures, ETFs, and stocks related to digital assets.
If Morgan Stanley proceeds further with this initiative, E-TRADE would become one of the largest traditional retail brokerages to offer direct crypto trading, positioning it as a formidable competitor to existing platforms such as Coinbase.
As you can see, E-TRADE is able to be accessed easily through a smartphone or computer— making it a formidable competitor with other trading platforms.
This development would also align with Morgan Stanley's historically progressive approach. In August 2024, the bank authorized its 15,000 financial advisors to recommend Bitcoin exchange-traded funds (ETFs) to clients, specifically BlackRock's iShares Bitcoin Trust and Fidelity's Wise Origin Bitcoin Fund.
The potential addition of crypto trading on E-TRADE could introduce a substantial influx of retail investors into the cryptocurrency market, potentially increasing trading volumes and market liquidity.
According to Yahoo Finance, Cumulative Spot BTC ETF Volumes have been on the steady rise. It is reasonable to infer that Morgan Stanley's recommendation to clients contributed to this increase.
It is important to note that Morgan Stanley would need to secure regulatory approval from the Federal Reserve to offer crypto trading through E-TRADE, as the bank is classified as a bank holding company. This task will prove to be difficult, regardless of which administration holds the office in the United States, but only time will tell as there is a positive outlook for the future of digital assets.
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