Morgan Stanley Executive Says Bitcoin on U.S. Bank Balance Sheets Will Take Time

U.S. banks seeking to hold Bitcoin directly must comply with Federal Reserve supervisory guidance, Basel capital rules and regulatory requirements across jurisdictions. The capital burden and risk-control thresholds remain high. Amy Oldenburg, Morgan Stanley’s head of digital asset strategy, believes Bitcoin will eventually appear on bank balance sheets, but adoption will not spread rapidly before the regulatory framework matures.

Oldenburg said Morgan Stanley had launched MSBT, its first bank-issued Bitcoin ETP. The bank is currently focused on closing the education gap among investment advisers regarding digital assets and related products. As of July 19, 2026, Morgan Stanley had not provided a timeline for holding Bitcoin directly on its balance sheet or disclosed MSBT’s issuance size or assets under management.