Morgan Stanley Bank organized a cryptocurrency research department

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Morgan Stanley, one of the largest American banks, has created a division that will study cryptocurrencies and the blockchain industry.

Sheena Shah has been appointed head of the new department and leading cryptocurrency analyst at Morgan Stanley. Prior to her new assignment, she worked as the leading foreign exchange strategist for the G10 countries. She also participated in various cryptocurrency research of the bank.

One of the main tasks of the new department will be to assess the impact of the cryptocurrency industry on stocks and investment products such as Treasuries and corporate bonds. The bank’s management stressed that the launch of a separate division for the study of cryptocurrencies “shows the growing importance of cryptoassets and digital currencies in the global financial markets.”

Note that so far, Morgan Stanley strategists do not risk buying cryptocurrencies directly. However, the bank’s various funds are gradually increasing their positions in the Grayscale Bitcoin Trust (GBTC) shares. In addition, the bank provides an opportunity to invest in external cryptocurrency funds for its clients.

Earlier, another major American bank, State Street, announced the launch of a separate cryptocurrency division.

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