Bitcoin Approaches $97K as Morgan Stanley and Schwab Prepare for Crypto asset Trading
On May 1, BTC approached $97,000, giving the crypto market a significant boost. What caused this? Two notable entities on Wall Street, Morgan Stanley and Charles Schwab, are taking steps to engage further in cryptocurrency trading. Such institutional enthusiasm typically garners attention, and this occasion was no exception. BTC is inching closer to $97K as Wall Street firms aim to broaden access to crypto for regular investors.
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While the price increase may have been fleeting, it serves as a reminder that conventional finance isn’t merely skirting around crypto any longer. They’re actively seeking to provide it to regular clients, not solely the ultra-rich.
Morgan Stanley’s E*Trade Sets Sights on Crypto Integration
Initially, Morgan Stanley appears to be taking action. Reports indicate that they’re preparing to introduce crypto trading for E*Trade users, the well-known brokerage acquired in 2020. Their goal is to have it operational by 2026, likely focusing on BTC and ETH.
At the moment, only high-net-worth clients of Morgan Stanley gain crypto exposure via ETFs and futures. This new initiative aims to significantly enhance crypto accessibility for a wider range of investors — those logging into E*Trade for stock purchases rather than crypto mining BTC or trading NFTs.
Just saw Morgan Stanley’s plan to bring crypto to E*Trade in 2026, a major leap for mainstream acceptance.
Bitcoin’s floating near $97K, and altcoins could surge if it surpasses $100K.
Anyone else feeling uptrend this May?
What coins are in your portfolio?— JOHN HADRICK
(@hadrickJo) May 1, 2025
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For this to happen, Morgan Stanley is reportedly seeking partnerships with crypto companies to establish the necessary infrastructure for direct crypto trading. It’s a complex task, but evidently, they foresee sustained buyer interest from their clientele.
Charles Schwab Eyes Spot Crypto Trading
Next up is Charles Schwab, which is also considering a foray into spot crypto trading. CEO Rick Wurster mentioned they’re aiming to offer this within the next year, contingent upon regulatory changes.
Until now, Schwab has engaged with crypto indirectly via ETFs and funds. However, they’ve also discreetly co-founded a non-custodial crypto exchange named EDX Markets, in collaboration with Fidelity and Citadel. Essentially, they’ve been laying the groundwork for this move for some time.
Trading market Repercussions and Competitive Landscape
Such a mainstream initiative could disrupt platforms like Coinbase and Robinhood. Shortly after Morgan Stanley’s crypto plans went public, Robinhood’s stock experienced a drop. This highlights just how seriously investors view these developments.
With U.S. regulators exhibiting increased leniency towards banks engaging in digital assets, the landscape is beginning to appear more favorable for traditional finance to enter the crypto sphere without legal complications.
Final Thoughts
BTC surpassing $97K wasn’t merely a passing blip in the trading market. It signifies a larger trend — significant financial institutions are making substantial efforts to integrate crypto into the mainstream. Morgan Stanley and Charles Schwab aren’t simply experimenting. They’re strategizing to normalize crypto trading as a integral aspect of retail investing. Regardless of whether prices continue to surge or stabilize, this transformation is already in progress.
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- Bitcoin soared towards $97K on May 1 following reports that Morgan Stanley and Charles Schwab are gearing up to provide crypto trading to retail investors.
- Morgan Stanley is working on incorporating crypto trading into E*Trade, targeting a 2026 launch that may feature Bitcoin and ETH.
- Charles Schwab intends to introduce spot crypto trading within the coming year, subject to regulatory approval.
- These actions from established financial institutions are likely to challenge current platforms such as Coinbase and Robinhood.
- The expansion indicates a widening shift towards mainstream crypto asset acceptance as Wall Street aligns with clearer regulatory guidance.
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