Morgan Stanley, the Wall Street firm managing $9.3 trillion in assets, has appointed Amy Oldenburg as Head of Digital Asset Strategy and opened access to the Grayscale Bitcoin (BTC) Mini Trust ETF across more than $7.4 trillion in advisor-managed portfolios, marking what analysts describe as a shift from research-focused exploration to full-scale crypto execution.
What Happened: Major Wall Street Bank Formalizes Crypto Strategy
The appointment of Oldenburg, who previously worked in emerging markets at the firm, formalizes digital assets as a core business priority. She will coordinate product development, partnerships, and trading across Morgan Stanley's units.
"When institutions turn against you, you want to hold your keys, you want to hold your coins," Oldenburg said.
The move follows a two-year progression. In 2024, advisors could recommend spot Bitcoin ETFs from BlackRock and Fidelity only to eligible high-net-worth clients.
By 2025, restrictions were lifted. All wealth management clients, including those with retirement accounts, gained access to crypto funds.
September 2025 brought plans to launch direct crypto trading via E*TRADE, supporting Bitcoin, Ether (ETH), and Solana (SOL). Early 2026 saw the firm file with the SEC for its own spot Bitcoin, Solana, and Ethereum ETFs.
"2026 is going to be explosive for crypto," said fintech journalist Frank Chaparro.
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Why It Matters: Wall Street Accelerates Crypto Adoption
The push reflects broader industry momentum. 60% of the top 25 US banks have launched or announced Bitcoin services, including trading and custody, with JPMorgan, Wells Fargo, and Citi among those entering the space.
Morgan Stanley's move beyond distribution to issuance and direct trading positions it to compete with BlackRock and Fidelity in a market that grew to over $114 billion in assets for Bitcoin ETFs alone.
Some observers have raised questions about execution. Felix Hartmann pointed to entry-level salaries for senior crypto roles, noting that a Director of Digital Asset Strategy position starts at $80,000. This suggests compensation structures may need adjustment to attract crypto-native talent.
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