- Bitcoin rose to $ 97,300 on Thursday, which was pulled closely to recover the $ 100K limit.
- Morgan Stanley is allegedly planning to offer crypto trading to E*trade clients.
- Charles Schwab CEO Rick Verster said that the company is demanding to add crypto trading after resolving the rules.
Bitcoin (BTC) exceeded $ 97,000 on Thursday as Wall Street Giant Morgan Stanley and Charles Schwab revealed the plan to offer crypto trading to customers.
Bitcoin soon reconstructed $ 97k as Wall Street Companies Eye Crypto Trading
According to a Bloomberg report, Morgan Stanley is allegedly starting to offer crypto trading on his E*trade platform.
The report stated that the launch may include partnership with the crypto firms established to support trading assets such as bitcoin and ether. It is allegedly trying to start the process next year. The scheme will allow Morgan Stanley’s E*Trade Retail Client to purchase and sell crypto assets directly from its existing brokerage accounts.
Morgon Stanley already offers Crypto-Link ETF trading to the high-net-world clients of Blackrock and Fidelity through its Wealth Management Division.
According to a statement by the firm’s CEO, Rick Verster, Charles Schwab is also planning to start a spot crypto trading on his stage, during his earnings call. The Verster suggested that the company is considering opening its doors for crypto trading for some time, but will kick once the Crypto’s rules are properly set. He indicated a major possibility of the firm’s introduction within the next 12 months.
Verster also stated that the crypto investment “meaningful risk”, especially tolerate extreme value volatility, makes the proper allocation challenging to determine the appropriate allocation strategies for investors.
Meanwhile, the strategy released its Q1 report stating that it organizes 553,555 BTC by April 28, which it had acquired for an average price of $ 68,459 per BTC, $ 37.9 billion. The company also revealed that it yielded 13.7% BTC in Q1 despite the market slowdown in February and March.
As a result, the strategy has increased the target of its bitcoin yield and dollar profit for 2025, increasing them from 15% to 25% and $ 10 billion to $ 15 billion respectively. The change comes after the company announced the offer of a new $ 21 billion market (ATM) equity, which can be used to expand its bitcoin holdings.
BTC held rallies above $ 97,000 within the last 24 hours, pushing the price close to the limit of $ 100,000 before returning to the $ 96,000 range on time.
