International funding financial institution Morgan Stanley is establishing a brand new cryptocurrency analysis staff. “The launch of devoted crypto analysis is in recognition of the rising significance of cryptocurrencies and different digital belongings in world markets,” the financial institution stated.

Morgan Stanley Units Up New Analysis Group

Morgan Stanley is launching a devoted cryptocurrency analysis staff, Bloomberg reported Monday, citing the financial institution’s inner memo to employees it has seen.

Led by Sheena Shah, the agency’s lead cryptocurrency analyst, the staff will analysis cryptocurrencies’ impression on each equities and glued revenue globally.

Shah will probably be based mostly in London, the place she’s going to report back to Adam Wooden, who leads Morgan Stanley’s fintech and funds analysis staff in Europe. She may also report back to James Faucette, who leads the agency’s fintech and funds analysis staff 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 available to its purchasers. In April, the agency added bitcoin to 12 mutual funds’ funding methods.

A number of different main monetary establishments have additionally established devoted cryptocurrency groups, together with Bank of America (BOFA) which created a crypto analysis staff in July. Final week, asset administration agency Franklin Templeton posted a job discover for an “funding analysis analyst” for cryptocurrency.

A rising variety of funding banks have begun providing or are within the strategy of providing cryptocurrency providers to their purchasers. They embody Goldman Sachs, Citigroup, Standard Chartered, Wells Fargo, and DBS.

What do you consider Morgan Stanley launching a devoted crypto analysis staff? Tell us within the feedback part under.

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