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Morgan Stanley executives are looking into adding spot cryptocurrency trading to its E*Trade platform sometime next year, Bloomberg reported Thursday.
Bitcoin hit its highest price since late February following the report.
The report comes as regulators under the Trump administration have shifted to a softer stance on crypto enforcement.
Banking giant Morgan Stanley (MS) is looking to bring cryptocurrency trading to clients through its E*Trade platform, according to a report Thursday.
Citing people familiar with the matter, Bloomberg reported that discussions are ongoing within the bank about adding spot cryptocurrency trading. Executives are looking at introducing the service sometime in 2026, it said.
The report said the bank “is considering partnering with one or multiple established crypto firms” as it looks into the best methods for adding trading to the platform.
Bitcoin (BTCUSD) hit its highest level since late February earlier Thursday morning and recently was trading just below $97,000. Shares of Robinhood (HOOD) fell 4% while those of fellow trading platform Coinbase (COIN) were up slightly, as the companies could face increased competition if big banks make a push into crypto trading.
The report comes as regulators under the Trump administration have shifted to a softer stance on crypto enforcement. Executives in the crypto industry cheered Trump’s election win, and President Donald Trump has said he wants to make the U.S. the “cypto capital of the planet.”
Morgan Stanley did not immediately respond to a request for comment.
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