Institutional investors are now actively getting deeper into the world of cryptocurrencies. Morgan Stanley, which is one of the largest banks in the world’s biggest economy, the US, has launched a dedicated crypto research wing. It clearly indicates how the conventional banking company is pushing to create more crypto-focused services for its clients.
Morgan Stanley confirmed creating a crypto-focused research wing. The wall street giant has also announced Sheena Shah as their lead analyst for the newly created crypto research team. Shah has been working with the bank for over 8 years as a lead currency strategist. She has also been reportedly actively contributing to developing the bank’s fintech products and crypto-related offerings.
Shah will now be responsible for leading the new team. In her new role, she would be actively analyzing the relationship between cryptocurrencies and equities and fixed-income investments.
Morgan Stanley, in an announcement, said that the launch of the new crypto-focussed research team “is in recognition of the growing significance of cryptocurrencies and other digital assets in global markets.”
Morgan Stanley has been actively pursuing the crypto markets and creating products to attract crypto-savvy investors. Earlier this year, the leading US bank is also said to have rolled out a dedicated Bitcoin investment tool for its high-end clients.
Many banks and investment giants have amplified their efforts to attract millennial investors who have been actively adding cryptocurrencies to their portfolios. Conventional financial institutes don’t want to be left out.