Morgan Stanley Hires Digital Asset Chief as Bank Expands Crypto Business

TLDR

• Morgan Stanley appointed Amy Oldenburg as head of digital asset strategy after she spent over 20 years at the firm
• Oldenburg previously led the emerging markets equity team since November 2021 and worked on digital asset strategy there
• The bank filed applications for spot Bitcoin and Solana ETFs in early January 2025, plus a staked Ethereum ETF
• Morgan Stanley plans to launch a crypto wallet supporting cryptocurrencies and tokenized real-world assets
• The firm is hiring for multiple digital asset positions including strategy director and product lead roles

Morgan Stanley has appointed Amy Oldenburg to head its digital asset strategy in a newly created role. The move comes weeks after the investment bank filed to launch three crypto exchange-traded funds.

Oldenburg joins the digital asset unit after working at Morgan Stanley since 2001. She most recently led the emerging markets equity team, a position she held since November 2021.

Morgan Stanley Files for Multiple Crypto ETFs

The $2 trillion investment bank filed applications for spot Bitcoin and Solana ETFs in the first week of January 2025. These marked the firm’s first major crypto products after largely avoiding the space during the initial wave of institutional adoption.

Days later, Morgan Stanley filed for a staked Ethereum ETF. This fund would hold ETH and stake a portion to generate income for investors.

If approved by regulators, these ETFs could bring crypto exposure to Morgan Stanley’s 19 million wealth management clients. The bank has stayed more cautious than competitors like BlackRock and Fidelity, which launched spot Bitcoin ETFs in 2024.

Crypto Wallet Plans Move Forward

Morgan Stanley is also developing a crypto wallet for launch later this year. The wallet will support cryptocurrencies and tokenized real-world assets including stocks, bonds and real estate.

Oldenburg has previously spoken about the importance of self-custody in crypto. At the Digital Assets Summit 2025, she emphasized wanting access to liquidity around the clock.

She said Morgan Stanley clients want to move their digital assets and use all the features the crypto space offers. In March 2024, Oldenburg stated she was against ETFs because they did not provide staking capabilities at the time.

Bank Expands Digital Asset Team

Job postings on LinkedIn show Morgan Stanley is building out its crypto team. The bank is hiring for positions including digital assets strategy director, digital assets strategist and digital assets product lead.

Other openings include an executive director for portfolio enablement and governance. The bank is also seeking a vice president for crypto and digital asset advisory compliance.

The hiring push reflects growing interest from traditional financial institutions in crypto products. BlackRock is also recruiting for multiple crypto-focused roles including managing director and director-level positions.

Regulatory Environment Shifts

The Securities and Exchange Commission under Paul Atkins has shown more openness to crypto products. This includes staking features and yield-bearing products that were previously difficult to approve.

The change in regulatory tone has encouraged traditional finance firms to accelerate their crypto plans. Many banks expect wider stablecoin adoption and new U.S. legislation in the coming months.

Oldenburg’s background in emerging markets could prove valuable as the bank develops its crypto strategy. She has focused on digital asset infrastructure needs for clients in these regions.

Morgan Stanley’s entry into crypto comes as the bank seeks to compete with rivals already offering digital asset products. The firm’s wealth management division gives it a large potential customer base for crypto services.

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