Morgan Stanley (MS) is figuring out how it can act as a trading agent in the cryptocurrency market, CEO Ted Pick said.
The bank, which has about $1.6 trillion in assets under management, will work with the US Treasury and other regulators to figure out how it can safely offer cryptocurrencies, Pick said in an interview with CNBC at the Forum. World Economic Forum in Davos. Switzerland on Thursday.
“For us, the equation really turns on whether we, as a highly regulated financial institution, can act as transacters,” he said.
Pick was asked about his opinion on cryptocurrencies in the US under the supposedly pro-crypto presidency of Donald Trump.
He described how Morgan Stanley is assessing whether the cryptocurrency industry has come of age as an asset class.
“I think there is liquidity and that liquidity will be expressed in many different ways,” Pick said in an apparent reference to the availability of cryptocurrency exchange-traded funds (ETFs) in the US.
US spot bitcoin (BTC) ETFs now hold a combined $39 billion worth of the largest cryptocurrency and began trading in early January last year.
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