Morgan Stanley ( MS ) is figuring out how to function as a transactor in the crypto market, CEO Ted Pick said.
The bank, which has about $1.6 trillion in assets under management, will work with the U.S. Treasury Department and other regulators to figure out how to offer crypto in a secure way, Pick said in an interview with CNBC on World Economic Forum in Davos, Switzerland on Thursday.
“For us, the equation is really about whether, as a highly regulated financial institution, we can act as transactors,” he said.
Pick had been asked about his views on cryptocurrency in the US during Donald Trump’s allegedly pro-crypto presidency.
He described how Morgan Stanley assesses whether the crypto industry has come of age as an asset class.
“I think there is liquidity and that liquidity will express itself in all sorts of different ways,” Pick said in an apparent reference to the availability of crypto exchange-traded funds (ETFs) in the US
US spot bitcoin (BTC) ETFs now have a combined value of $39 billion of the largest cryptocurrency and only began trading in early January last year.
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