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Morgan Stanley Bank wants to offer Bitcoin trading to customers
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THE Morgan Stanleyone of the largest global asset managers, is considering expanding its services and entering the Bitcoin and cryptocurrency market.
According to the portal The Informationthe bank plans to add cryptocurrency trading to your platform E-Tradea movement that promises to transform the dynamics of the traditional financial market.
This decision comes at a time of optimism, driven by the president-elect’s plans donald trumpwhich proposed a friendlier regulatory environment for cryptocurrencies, aiming to consolidate the United States as a leader in the digital assets sector.
If implemented, the change would place E-Trade among the big traditional brokerslike Robinhood and Fidelityoffering negotiations on Bitcoin and other cryptos, challenging specialized platforms such as Coinbase.
Bitcoin invades banks in the US
The impact of this change could be significant. E-Trade, which currently manages 5.2 million accounts with US$360 billion in assets, has the potential to attract a new customer base interested in trading digital assets in a simple and accessible way.
This would not only increase competition in the cryptocurrency market, but also broaden the acceptance of digital assets among traditional investors.
Furthermore, the sector cryptocurrency trading has proven to be highly profitable. Companies like Robinhood have already reported an increase in 165% in revenue from crypto assets in the third quarter of 2024. Coinbasein turn, generated US$1.2 billion in revenuemost of which comes from crypto trading.
THE Morgan Stanley has already demonstrated its initial support for cryptocurrencies, authorizing its advisors to recommend Bitcoin ETFs of BlackRock and Fidelity for its customers in 2024.
With US$3.75 trillion under managementthis expansion into the cryptoactive market would represent a clear sign that digital assets are becoming an increasingly important part of traditional finance.
In another recent decision, Morgan Stanley announced that it will allow its financial advisors to offer spot Bitcoin exchange-traded funds (ETFs) to select high-net-worth clients.
Morgan Stanley Bank wants to offer Bitcoin trading to customers
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Morgan Stanley Bank wants to offer Bitcoin trading to customers
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Morgan Stanley Bank wants to offer Bitcoin trading to customers
