Morgan Stanley and Charles Schwab Enter Crypto Arena as Bitcoin Soars to $97K
Wall Street giants make bold moves into digital assets at peak market momentum.
Traditional finance finally acknowledges what crypto natives knew for years—just as Bitcoin hits another all-time high. Will this be the institutional validation that sustains the bull run, or another case of latecomers chasing hype?
Meanwhile, retail traders watch warily as the suits bring their compliance teams and 1% expense ratios to the decentralized party.
Source: CoinMarketCap
Bitcoin Hits 97K As Wall Street Enters Crypto Despite Risks
itcoin hits 97K briefly on Thursday, and at the time of writing, major Wall Street giants are moving toward offering cryptocurrency services to their clients. This price surge comes as institutional crypto adoption continues to grow, with Morgan Stanley crypto trading options and also Charles Schwab cryptocurrency services being planned for the NEAR future.
Morgan Stanley Plans Crypto Trading
Morgan Stanley crypto trading options will soon be available to E*Trade clients, according to a recent report from Bloomberg. Bitcoin hits 97K partly due to this development, as retail investors could possibly gain direct access through their existing brokerage accounts.
Charles Schwab CEO Rick Wurster stated:
Charles Schwab’s Entry Timeline
Charles Schwab cryptocurrency services will likely launch within a year or so, pending some regulatory clarity. This continued institutional crypto adoption represents a significant shift in the market despite the ongoing crypto investment risks that many experts keep pointing out.
Bitcoin’s Price Movement
Bitcoin hits 97K before retreating somewhat to around $96,000 at the time of this report. Strategy, an investment firm, reported holding about 553,555 BTC purchased at an average price of approximately $68,459 per coin. The company actually achieved a 13.7% BTC yield in Q1 despite some market downturns and challenges..
Charles Schwab CEO Rick Wurster had this to say:
Market Outlook
The progression of Morgan Stanley crypto trading plans coupled with Charles Schwab cryptocurrency development brings more institutions into crypto adoption spaces while crypto market risks remain clear to investors. Digital currencies are becoming increasingly accepted by regular people as seen through the slow progression towards reaching the $100,000 milestone.
