According to Wu, Morgan Stanley plans to launch cryptocurrency spot trading on the ETrade platform next year, allowing customers to buy and sell Bitcoin and Ethereum, and is considering working with crypto companies. ETrade already supports crypto ETFs and their derivatives trading, and spot trading is seen as the next step in expansion. Meanwhile, Charles Schwab also plans to launch a similar service within the next 12 months. Against the backdrop of a relaxed regulatory environment, several institutions, including SoFi and Bank of New York Mellon, are also re-promoting digital asset businesses.

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