Morgan Stanley (MS) is exploring how to operate as a transactor in the cryptocurrency market, according to CEO Ted Pick. The firm, which manages approximately $1.6 trillion in assets, aims to collaborate with the U.S. Treasury and other regulatory bodies to determine safe methods for providing cryptocurrency services.

In an interview with CNBC at the World Economic Forum in Davos, Switzerland, Pick addressed the bank’s strategic assessment of the cryptocurrency sector.

“For us, the equation is really around whether we, as a highly-regulated financial institution, can act as transactors.”
“I think there is liquidity and that liquidity will express itself in all kinds of different ways,” Pick added, hinting at the growing presence of crypto ETFs in the U.S.

Currently, U.S. spot bitcoin ETFs hold a total of $39 billion, a significant milestone since their trading began in early January last year.

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(Morgan Stanley engages with regulations to ensure safe crypto offerings.)