4 hours ago
Morgan Stanley (MS) is figuring retired however it tin enactment arsenic a transactor successful the crypto market, CEO Ted Pick said.
The bank, which has immoderate $1.6 trillion of assets nether management, volition enactment with the U.S. Treasury and different regulators to fig retired however it tin connection crypto successful a harmless way, Pick said successful an interrogation with CNBC astatine the World Economic Forum successful Davos, Switzerland connected Thursday.
“For us, the equation is truly astir whether we, arsenic a highly-regulated fiscal institution, tin enactment arsenic transactors,” helium said.
Pick had been asked astir his views connected cryptocurrency successful the U.S. nether the supposedly pro-crypto presidency of Donald Trump.
He described however Morgan Stanley is assessing whether the crypto manufacture has travel of property arsenic an plus class.
"I deliberation determination is liquidity and that liquidity volition explicit itself successful each kinds of antithetic ways," Pick said successful an evident notation to the availability of crypto exchange-traded funds (ETFs) successful the U.S.
U.S. spot bitcoin (BTC) ETFs present clasp a combined $39 cardinal worthy of the largest cryptocurrency and archetypal started trading successful aboriginal January past year.
Read More: New Bitcoin ETF Promises 100% Downside Protection Against Price Volatility. Here Is How
English (US) 