• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news today, price & technical analysis
Price & Market
Cap Data from
Nomics Logo
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • TradeeToro
  • Buy SilverTry
No Result
View All Result
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • TradeeToro
  • Buy SilverTry
No Result
View All Result
NewsBTC
No Result
View All Result
Price & Market
Cap Data from
Nomics Logo

Morgan Stanley is Racing to Lead the Wall Street Pack into Crypto

newsbtc by newsbtc
3 years ago
in
Reading Time: 2min read
morgan stanley
Advertisement

Morgan Stanley is gearing up to make their move into crypto, hoping to beat the Wall Street pack and leave long time rival Goldman Sachs behind according to insiders.

Morgan Stanley Accelerates Move into the Crypto Market

According to an interview with an unnamed insider at Morgan Stanley that has been reprinted by SludgeFeed, Morgan Stanley is moving quickly to add cryptocurrency to their trading products. Their goal is to create a specific desk for institutional traders, ICOs, and arbitrage, and to do it before Goldman Sachs or any of the other major financial institutes do.

The source said that Morgan Stanley is actively consulting with money managers and hedge funds which already have money in the space and are focused on “firms that are apt to add to their current portfolios as opposed to starting from scratch.” One unnamed source said;

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

“Truth be told this is the next arms race. EVERYONE IS RUSHING INTO CRYPTOS. Everyone. There isn’t a bank, a fund, a fund company, a former legend attempting to reclaim old glory, private equity, venture capital, lending, exchanges, consulting firms – everybody. It is the digital gold rush. And our firm wants to get there and pull as many levers as we can.”

The Race is On

As retail investment in cryptocurrency becomes apparently inevitable more and more of the old guard are tossing hats into the ring.  Nasdaq CEO Adena Friedman told CNBC’s Squawk Box last week that creating a Nasdaq cryptocurrency exchange is under consideration which had the effect of Bitcoin reaching an all-time high on the CboE as institutional money rushed into the market.

Goldman Sachs in an effort not to be left behind has been indicating that it too will set up a trading desk dealing with cryptocurrency and has recently filled their first high-level crypto-centric position. The firm hired Justin Schmidt, a former trader, as vice president and head of digital asset markets in Goldman’s securities division. The bank is planning on having its platform up and running by the end of summer 2018.

London’s largest bank Barclays has even made hints that it will open it’s own crypto trading desk after rumors were aired about a possible partnership with Goldman Sachs, and confirmed dealings with Coinbase.

Wall Street’s move into the cryptocurrency market seems inevitable since institutional investors are already set to push money into the space. The number of cryptocurrency hedge funds has multiplied eight times since 2016 but remain limited as to what they can do with their money since no bank has yet filled the niche of providing crypto services but, by all indications, this will change by the close of 2018.

 

Image from Shutterstock
Tags: bitcoin wall streetcrypto investinginstitutional marketMorgan Stanley
TweetShare
Nexo Logo
BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner? Win up to $1,000,000 in One Spin at CryptoSlots
newsbtc

newsbtc

Related Posts

Ripple (XRP)

Charted: Ripple (XRP) Forms Support Base, Why It Could Rally Above $0.50

10 mins ago
Ethereum

TA: Why Ethereum is Primed To Revisit $2,000 and New ATH

2 hours ago
Bitcoin

TA: Bitcoin Rallies above $52K, Why BTC Could Soon Hit $55K

4 hours ago
bitcoin anarchy

Fund Manager Bashes Bitcoin: An Extreme Form of Libertarian Anarchism

6 hours ago
uniswap airdrop lottery winner

Uniswap Airdop Value Reaches $13,000 For Those That Didn’t Sell Early

11 hours ago
Bitcoin, cryptocurrency, BTCUSD, BTCUSDT

Bitcoin Holds $50,000 on Global Corporate FOMO; What to Expect?

18 hours ago

Premium Partners

Top Brokers

eToro

eToro

Review · Visit
Evolve Markets

Evolve Markets

Review · Visit
ArbiSmart

ArbiSmart

Review · Visit
PrimeXBT

PrimeXBT

Review · Visit
Moneta Markets

Moneta Markets

Review · Visit

Top Casinos

BitStarz

BitStarz

Review · Visit
mBit

mBit

Review · Visit
CryptoGames

CryptoGames

Review · Visit
Bonusfinder DE

Bonusfinder DE

Review · Visit
Bspin

Bspin

Review · Visit
Wolf Bet

Wolf Bet

Review · Visit

Top Sportsbooks

1xBit

1xBit

Review · Visit

Press Releases

BTCS Now Producing Revenue from all 100 Ethereum 2.0 Nodes

March 8, 2021

Router Protocol and Polygon Partners With DFyn to Launch L2 GalaxyFarm

March 8, 2021

Get the Latest Crypto News, Trends and Insights at Interactivecrypto

March 8, 2021

Newsletter Signup


ABOUT US

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

COMPANY

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

LINKS

Auto Trading Software ▸

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

© 2020 NewsBTC. All Rights Reserved.

  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Trade
  • Buy Silver

© 2020 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.