Morgan Stanley is reportedly exploring crypto trading integration on its E-Trade platform, motivated by expected pro-crypto policies under President Donald Trump. This move could position Morgan Stanley as a significant competitor to Coinbase in the digital asset market.
Morgan Stanley, a prominent Wall Street investment banking firm, is purportedly contemplating the integration of cryptocurrency trading into its online E-trade brokerage platform.
The wealth manager’s decision is based on the anticipated more lenient digital asset policy in the United States under incoming President Donald Trump, who aims to establish the United States as “the world’s crypto capital,” according to a Jan. 2 report by The Information.
Morgan Stanley, a prominent Wall Street investment banking firm, is purportedly contemplating the integration of cryptocurrency trading into its online E-trade brokerage platform.
The wealth manager’s decision is based on the anticipated more lenient digital asset policy in the United States under incoming President Donald Trump, who aims to establish the United States as “the world’s crypto capital,” according to a Jan. 2 report by The Information.
Morgan Stanley Crypto Trading on E-Trade
Morgan Stanly has the potential to challenge Coinbase’s dominance. In the market, Morgan Stanley completed its acquisition of E-Trade in 2020 through a $13 billion all-stock transaction.
Morgan Stanley would become one of the largest traditional retail brokerages to offer support for digital asset trading if it integrates crypto trading into E-Trade. This could result in Coinbase, the foremost cryptocurrency exchange in the United States, facing some robust competition.
Crypto trading is already available on the platforms of other conventional brokerage firms, including Interactive Brokers, Fidelity, and Robinhood. In the interim, Charles Schwab is also purportedly planning to incorporate cryptocurrency trading this year.
Trump’s objective is to establish the United States as a global leader in the cryptocurrency industry.
Trump made numerous assurances to crypto voters in 2024. Among them was the commitment to mine all remaining BTC in the United States, advocate for Bitcoin miners in the White House, terminate Gary Gensler on his first day in office, and establish a strategic BTC reserve to address the nation’s expanding debt. Additionally, Trump pledged to appoint pro-crypto leaders to critical regulatory agencies.
The crypto industry has already experienced a series of developments that could be advantageous, despite the fact that Trump’s inauguration is scheduled for January 20.
The resignation of US Securities and Exchange Commission (SEC) Chair Gensler may signal the conclusion of the agency’s battle against the digital asset sector.
Additionally, Trump has disclosed that he has appointed David Sacks, the former CEO of Paypal, as his AI and crypto administrator. In the interim, the US President-elect has appointed Vivek Ramaswamy and Elon Musk to lead a new Department of Government Efficiency, which is intended to optimize government expenditure.
Additionally, legislators in the United States who received assistance from crypto-industry leaders during their primaries or elections will be sworn into office today.
