Reports indicate that Morgan Stanley may be considering adding crypto trading to its E-Trade platform, signalling a potential shift in institutional interest towards digital assets.

The landscape of cryptocurrency trading may be on the brink of significant transformation, according to various reports surrounding Morgan Stanley’s potential entry into the sector. Speaking to BitDegree Crypto News, insiders revealed that the financial services giant is considering the addition of crypto trading capabilities to its E-Trade platform. Currently, E-Trade offers indirect exposure to cryptocurrencies via vehicles such as exchange-traded funds (ETFs) and futures contracts. However, the move towards direct trading is perceived as a strategic shift that could expand their service offerings and solidify E-Trade’s position as a pioneer among mainstream financial institutions in embracing digital assets.

The anticipated shift comes amid growing institutional interest in cryptocurrencies, particularly Bitcoin, which has recently shown high performance metrics. A report indicates that Bitcoin ETFs have reached an impressive $100 billion in assets under management, highlighting the real demand from institutional investors. This surge in interest, coupled with expectations for a more accommodating regulatory environment, has seen Bitcoin’s price escalate to near $98,000, representing a remarkable 40% increase in less than two months.

Fred Thiel, CEO of Marathon Digital Holdings, shared insights into the resilience of Bitcoin, stating that historically, the cryptocurrency has only experienced severe downturns three times throughout its 14-year existence. He pointed out that in most years, Bitcoin sees substantial gains ranging from 29% to 50%. “My advice to my kids was to get Bitcoin and forget it,” Thiel remarked, underscoring a long-term investment perspective.

In the broader context of the crypto market, Bitcoin’s trajectory appears to follow a familiar pattern marked by rapid price increases, potential corrections, and subsequent periods of sideways trading. This cyclical nature raises questions about whether Bitcoin could match previous trends that resulted in 200% growth within 100 days. However, observers have noted some concerning technical indicators, such as a “head and shoulders” pattern, which may suggest an impending peak.

In addition to institutional developments, several news drops caught attention in the crypto space. A man from California has initiated legal action against three Asian banks, alleging that they failed to alert him to suspicious transfers that enabled scammers to siphon nearly $1 million through a pig butchering scam. This case highlights ongoing concerns regarding fraud within the crypto transactions sphere.

Additionally, reports have surfaced about X, formerly known as Twitter, potentially launching a payment system called X Money, with the platform securing money transmitter licenses in 39 states. Furthermore, Virtuals Protocol has relaunched its bug bounty program following an identified flaw in its smart contract, demonstrating the ongoing focus on security in the rapidly evolving cryptocurrency ecosystem.

The trends emerging in cryptocurrency, especially regarding institutional players like Morgan Stanley, signal a potential shift towards greater acceptance and integration of digital assets within traditional finance. The implications of these developments are extensive, suggesting a future where cryptocurrency could play a more prominent role in mainstream investment strategies.

Source: Noah Wire Services

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