Morgan Stanley Mulls Crypto Trading Launch On E-Trade Platform, The Information Says

Wall
Street
investment
banking
giant
Morgan
Stanley
is
reportedly
considering
adding
crypto
trading
to
its
online
E-trade
brokerage
platform.

According
to
a
Jan.
2


report

by
The
Information,
the
wealth
manager’s
decision
is
based
on
the
anticipated
friendlier
digital
asset
policy
in
the
US
under
incoming
President
Donald
Trump,
who
wants
to
make
the
US
“the
world’s
crypto
capital.”

Morgan
Stanly
Could
Challenge
Coinbase’s
Dominance
In
the
Market

Morgan
Stanley

completed
its
acquisition
of
E-Trade
in
2020
through
a
$13
billion
all-stock
deal.
If
Morgan
Stanley
adds
crypto
trading
to
E-Trade,
it
would
make
it
one
of
the
biggest
traditional
retail
brokerages
to
implement
support
for
digital
asset
trading.
This
could
lead
to
some
healthy
competition
for
the
leading
US
crypto
exchange,
Coinbase.

Other
traditional
brokerage
firms
such
as
Robinhood,
Fidelity
and
Interactive
brokers
already
offer
crypto
trading
on
their
respective
platforms.
Meanwhile,
Charles
Schwab
also
reportedly
plans
to
add
crypto
trading
this
year.

Trump
Aims
To
Cement
US
As
A
Global
Crypto
Leader

In
2024,
Trump
made
several
promises
to
crypto
voters.
Among
them
was
the
promise
to
mine
all
remaining
BTC
in
the
US,
advocate
for
Bitcoin
miners
in
the
White
House,
fire
Gary
Gensler
on
his
first
day
in
office,
and
form
a
strategic
BTC
reserve
to
combat
the
country’s
ballooning
debt.
Trump
promised
to
appoint
pro-crypto
leaders
to
key
regulatory
agencies
as
well.

????????
Donald
Trump
to
make

#Bitcoin
a
strategic
reserve
asset
for
the
USA.

LET’S
F*CKING
GOOO
????

pic.twitter.com/XxsSkwUdKR

—
Vivek⚡️
(@Vivek4real_)

November
5,
2024

While
Trump’s
inauguration
is
set
for
Jan.
20,
there
have
already
been
a
series
of
developments
that
could
benefit
the
crypto
industry.
US
Securities
and
Exchange
Commission
(SEC)
Chair
Gensler
has
handed
in
his
resignation,
potentially
bringing
an
end
to
the
agency’s
war
on
the
digital
asset
sector. 

Trump
has
also
announced
the
appointment
of
former
Paypal
CEO


David
Sacks

as
his
AI
and
crypto
czar.
Meanwhile,
the
US
President-elect
has
named
Elon
Musk
and
Vivek
Ramaswamy
to
head
a
new
proposed
Department
of
Government
Efficiency
to
optimize
government
spending.

US
lawmakers
who
benefited
from
the
support
of
crypto-industry
leaders
in
their
respective
primaries
or
elections
will
also
be
sworn
into
office
today.

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