Morgan Stanley says Wall Street’s crypto push isn’t about FOMO
Morgan Stanley argues Wall Street's crypto expansion stems from years of infrastructure development, not just fear of missing out.Summary
Amy Oldenburg, Morgan Stanley's head of digital asset strategy, refuted the notion that Wall Street's growing involvement in crypto is driven by FOMO. She asserted that major banks are acting based on years of internal work focused on modernizing financial infrastructure. Historically, firms like Morgan Stanley offered limited crypto exposure, such as access to Bitcoin funds or spot Bitcoin ETFs via platforms like E*Trade, due to regulatory uncertainty and custody concerns. This stance is shifting, with Morgan Stanley outlining a broader digital asset strategy spanning trading, asset management, and infrastructure. Oldenburg revealed plans to support tokenized equities trading on their alternative trading system in the second half of 2026. She acknowledged the significant internal challenge of upgrading decades-old financial architecture to support faster settlement and continuous trading, noting that crypto startup founders often underestimate the complexity of bank systems. Despite the current market conditions, Oldenburg indicated that Wall Street's deeper integration with crypto is underway, albeit gradually, emphasizing that adoption requires coordination across the entire global financial network.
(Source：CoinDesk)