Morgan Stanley via E-Trade enters the crypto services market

Insiders report that Morgan Stanley is developing a plan to integrate crypto services into the E-Trade platform. This move is driven by demand from the broker’s 3 million active clients who wish to trade Bitcoin and several major altcoins. Throughout 2024, rival brokerage firms posted $82 bln in digital asset transactions, according to bank estimates.

For mining companies, this could mean fresh capital inflows. Historically, whenever a major bank opens crypto offerings, mining pools see a 7–10% rise in revenues. Analysts predict that within 12 months, Morgan Stanley might enable 200–300 thousand new retail investors to enter the space.

Not everyone agrees that a big financial institution’s entry benefits the ecosystem. Skeptics claim it could increase regulatory scrutiny and undercut the decentralized nature of cryptocurrencies.