Key Takeaways
- E-Commerce plans to offer direct crypto trading amid regulatory hopes under Trump.
- The move would position E-Commerce as a major player in digital asset trading.
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E-Trade, Morgan Stanley's online brokerage division, is exploring plans to launch crypto trading services amid expectations of a more favorable regulatory environment under the Trump administration, The Information. reported Thursday, citing sources familiar with the matter.
As an established player in the online brokerage industry, E-Trade does not offer direct crypto trading services.
The company currently offers indirect exposure to digital assets through investment products such as futures, ETFs, and stocks related to crypto assets. These include Grayscale Bitcoin Trust (GBTC) and ProShares Bitcoin Strategy ETF (BITO), to name a few.
Morgan Stanley received E-Commerce at the end of 2020 through an all-stock deal valued at $13 billion, aiming to strengthen its wealth management business. The addition of E-Trade's substantial client base and assets under management was intended to complement Morgan Stanley's wealth management operations.
If implemented, the E-Commerce movement would establish itself as one of the largest traditional financial institutions to enter the digital asset trading space, creating direct competition with established crypto exchanges such as Coinbase.
The move was revealed amid an institutional movement to embrace crypto assets. Morgan Stanley announced that in August 2024, selected clients with a net worth of at least $1.5 million would have access to Bitcoin ETFs through their financial advisors.
Morgan Stanley has not officially confirmed the timeline for the potential crypto trading launch through its E-Trade platform.
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