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Wall Street Banks Plot Their Crypto Future in Bet on IPO Boom - BLOOMBRG
- Morgan Stanley is courting clients, RBC weighs more business
- Trump’s crypto-friendly regime is expected to unleash deals
After staying on the sidelines, some of Wall Street’s biggest banks are plotting how to win more crypto business, betting President Donald Trump’s embrace of the industry unleashes a wave of IPOs, share sales and convertible bonds.
Morgan Stanley, which hadn’t been a major presence in the space, is now courting potential clients for initial public offerings, according to people familiar with the matter. At Bank of America Corp., senior executives in the investment bank are discussing a potential push into facilitating deals for digital asset firms. Royal Bank of Canada is looking to do more business after working on its first crypto deal late last year, said one of the people, who asked not to be identified discussing private information.
