Morgan Stanley’s Bitcoin Integration Plans
Morgan Stanley, a leading Wall Street investment firm managing nearly $9 trillion in assets, is setting its sights on integrating Bitcoin services into its platform. This initiative was revealed by Amy Oldenburg, who has recently taken charge of the bank’s digital assets strategy.
Insights from the Bitcoin for Corporations Conference
Speaking at the Bitcoin for Corporations conference in Las Vegas, Oldenburg expressed enthusiasm for potentially offering not just Bitcoin custody but also yield and lending services. She declared,
“Of course, that’s part of the discussion and exploration. It’s a natural part of the roadmap to continue to explore. I think we’re very early in the journey on that.”
Building In-House Capabilities
The banking giant has been conducting market research and recognizes the necessity of developing its own competencies before launching Bitcoin-related services. Oldenburg emphasized the importance of building in-house capabilities rather than relying solely on external tech solutions, stating,
“We really need to build this out internally. We can’t just primarily rent the technology to do this. People expect Morgan Stanley—they trust our brand—to be no-fail.”
Client Cryptocurrency Holdings
When queried by Strategy CEO Phong Le about the extent of cryptocurrency holdings among its clients, Oldenburg acknowledged a significant amount, yet noted that not all clients are inclined to transfer their Bitcoin assets into the bank’s custody solutions. She remarked,
“There’s always those that are going to want to self-custody. That’s a natural part of the space, especially in the Bitcoin space.”
Oldenburg’s Background and Future Plans
Oldenburg’s appointment to this role followed her long tenure at Morgan Stanley, where she previously led the emerging markets investment sector for 26 years. Speculation about the bank’s intentions to expand its cryptocurrency offerings has been ongoing for several months. Last fall, Morgan Stanley confirmed that it would facilitate trading in Bitcoin, Ethereum, and Solana through its E Trade app early this year.
Additionally, reports in October highlighted communication from the bank to its financial advisors about intentions to broaden their crypto product suite. In a significant development last month, the firm submitted an S-1 registration with the SEC to include Ethereum in its planned suite of cryptocurrency funds, which followed an earlier application for Bitcoin and Solana funds.
Decrypt attempted to connect with Morgan Stanley to gain further insights regarding their Bitcoin offerings and expected timelines but has yet to receive a response.
