Morgan Stanley is diving deeper into crypto, After beginning a Bitcoin investment tool for millionaires earlier this year. In the United States, one of the largest banks, Morgan Stanley is creating up a new crypto-focused research division.
Sheena Shah was appointed by The Wall Street megabank as lead cryptocurrency analyst for its dedicated cryptocurrency research team, Bloomberg announced [morgan-stanley-taps-sheena-shah-to-lead-new-crypto-research-team] on Monday. Shah worked as Morgan Stanley’s main currency strategist focusing on G10 currencies for more than eight years and struggled for the contribution to the bank’s crypto-related research efforts.
In the new role, Shah will mainly focus on depicting the consequence of cryptocurrencies on equities and fixed-income investments like treasury and corporate bonds.
Announcement of the news in a memo to staff, Morgan Stanley’s executives emphasized that the launch of a dedicated crypto research team “is in the identification of the increasing significance of crypto assets and other digital assets in global markets.”
Reported as previously, Morgan Stanley has been shoving into digital assets over the last past year, steadily growing its direct exposure to Bitcoin [BTC] through several investment funds by Grayscale Investments. In March, Morgan Stanley announced to introduce a Bitcoin investment tool for millionaire clients. The news comes as the traditional finance industry carries on with diving into crypto amid the parabolic growth of the cryptocurrency market. more than $1 trillion dollars over the past year has added The total market value of all crypto assets, jumping from around $350 billion one year ago to $2.1 trillion at the time of writing.