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Morgan Stanley is accelerating its Bitcoin strategy after years of preparation.
Morgan Stanley is accelerating its bitcoin and crypto strategy, but the bank’s digital asset head says it’s the result of years of preparation, not a sudden rush to catch up.
Speaking at the Digital Asset Summit on Tuesday, Amy Oldenburg emphasized that Wall Street’s move into digital assets reflects a long-term effort to modernize financial infrastructure. “We’ve been on a journey around the entire modernization of financial infrastructure for years,” she said, rejecting the idea that banks are acting out of fear of missing out.
Morgan Stanley has expanded beyond indirect crypto exposure, such as wealthy client bitcoin funds, to offer spot ETFs on its E*Trade platform and has filed to launch its own bitcoin ETF.
Looking ahead, the bank plans to support tokenized equities on its alternative trading system in the second half of 2026.
Oldenburg noted the challenges remain significant. Upgrading legacy systems, coordinating across a global network, and integrating with complex banking infrastructure all slow progress. “We can’t just modernize on our own,” she said.
JUST IN: Morgan Stanley's Amy Oldenburg said banks are expanding into Bitcoin and crypto after years of infrastructure development, not because of FOMO 🚀 pic.twitter.com/zOv4zUyQjP
Even amid volatile token prices, institutional activity is quietly growing. Stablecoins and faster settlement tools are gaining traction, signaling that Wall Street’s deeper crypto integration is underway — gradually, but steadily.
“This is a natural progression,” Oldenburg said at Strategy World. “We can’t just primarily rent the technology to do this. People expect Morgan Stanley – they trust our brand – to be no fail”
Back in January, Morgan Stanley filed with U.S. regulators to launch a spot bitcoin ETF, the first major U.S. bank to pursue a fund tied directly to bitcoin’s price.
The proposed Morgan Stanley Bitcoin Trust would hold bitcoin directly, rather than using futures or derivatives, joining firms like BlackRock and Fidelity in the growing $120 billion market for spot bitcoin ETFs.
Phong Le, CEO of Strategy, called Morgan Stanley’s proposed bitcoin ETF a “Monster Bitcoin” bet, estimating that a modest 2% allocation across the bank’s $8 trillion wealth platform could drive $160 billion into BTC.
