51 Insights

51 Insights

CEO Notes

Morgan Stanley enters crypto issuance

Marc Baumann's avatar
Sangam Bharti's avatar
Marc Baumann and Sangam Bharti
Jan 09, 2026
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For ten years, Wall Street played the middleman. Banks were happy to sell you BlackRock’s Bitcoin ETF and collect a ticket charge, keeping their hands clean of the underlying mechanics.

For a decade, Wall Street played the safe game. They sold you BlackRock’s ETF, collected a ticket charge, and kept their hands clean.

That era is over.

Morgan Stanley ($1.5T

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