Morgan Stanley CEO Ted Pick announced plans to collaborate with U.S. regulators to explore expanding the bank’s presence in the cryptocurrency market. Speaking at the World Economic Forum (WEF) 2025 in Davos on Thursday, Pick emphasized the importance of balancing innovation with regulatory compliance.
“For us, the equation revolves around whether we, as a highly regulated financial institution, can act as transactors,” Pick told CNBC’s Andrew Ross Sorkin. “We’ll be engaging with Treasury and other regulators to determine how we can provide these services safely.”
This announcement aligns with a shifting regulatory landscape under the pro-crypto stance of President Donald Trump’s administration. Earlier this week, the acting head of the SEC initiated efforts to establish a regulatory framework for digital assets.
Morgan Stanley has been a pioneer among U.S. financial institutions in embracing cryptocurrency. In 2021, the bank became the first major U.S. firm to offer Bitcoin funds to wealth management clients and later expanded its services in 2024, allowing advisors to market Bitcoin ETFs from providers like BlackRock and Fidelity.
Pick, who assumed the role of CEO in January 2024, addressed Bitcoin’s resilience in the market, noting, “The broader question is whether this space has matured, whether it’s reached escape velocity. Time is crypto’s ally—the longer it trades, the more perception aligns with reality.”
The bank’s renewed focus on cryptocurrency comes amid regulatory changes that signal a more favorable environment for financial institutions. Under the Biden administration, banks were largely restricted from holding “physical” Bitcoin, limiting their activities to derivatives. However, recent developments suggest a shift toward clearer and more accommodating regulations.
Bank of America CEO Brian Moynihan also weighed in earlier this week, stating that clear regulations could legitimize crypto-related activities for banks, paving the way for broader adoption.
Pick additionally commented on the recent buzz surrounding memecoins linked to President Trump and First Lady Melania Trump. “There’s liquidity in the market, but the question remains whether this is a sign of maturation or just speculation. As a regulated institution, our goal is to determine whether we can responsibly act as transactors and follow the money,” he said.
Morgan Stanley’s discussions with U.S. regulators in the coming months aim to assess the safety and feasibility of expanding crypto services while upholding its regulatory obligations.
