Global funding financial institution Morgan Stanley is establishing a brand new cryptocurrency analysis workforce. “The launch of dedicated crypto research is in recognition of the growing significance of cryptocurrencies and other digital assets in global markets,” the financial institution mentioned.
Morgan Stanley Sets Up New Research Team
Morgan Stanley is launching a devoted cryptocurrency analysis workforce, Bloomberg reported Monday, citing the financial institution’s inner memo to workers it has seen.
Led by Sheena Shah, the agency’s lead cryptocurrency analyst, the workforce will analysis cryptocurrencies’ influence on each equities and stuck revenue globally.
Shah shall be based mostly in London, the place she’s going to report back to Adam Wood, who leads Morgan Stanley’s fintech and funds analysis workforce in Europe. She may even report back to James Faucette, who leads the agency’s fintech and funds analysis workforce within the U.S.
The memo states:
The launch of devoted crypto analysis is in recognition of the rising significance of cryptocurrencies and different digital belongings in world markets.
Morgan Stanley was among the many first main funding banks to embrace cryptocurrency. In March, the agency made three bitcoin funds obtainable to its shoppers. In April, the agency added bitcoin to 12 mutual funds’ funding methods.
Several different main monetary establishments have additionally established devoted cryptocurrency groups, together with Bank of America (BOFA) which created a crypto analysis workforce in July. Last week, asset administration agency Franklin Templeton posted a job discover for an “investment research analyst” for cryptocurrency.
A rising variety of funding banks have begun providing or are within the means of providing cryptocurrency companies to their shoppers. They embrace Goldman Sachs, Citigroup, Standard Chartered, Wells Fargo, and DBS.
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