Charles Schwab, Goldman Sachs, and Morgan Stanley have all confirmed new plans to expand into the cryptocurrency market. Over the past two days, these major financial institutions have revealed separate initiatives that mark a significant shift toward crypto trading and blockchain-based assets.

Bitcoin (BTC) rose briefly above $97,000 on Thursday as Wall Street giants Morgan Stanley and Charles Schwab revealed plans to offer crypto trading to clients. Morgan Stanley is allegedly seeking to begin offering crypto trading on its E*Trade platform, according to a report from Bloomberg.

The initiative, which executives expect to launch sometime next year, would represent Morgan Stanley's biggest push yet into providing Bitcoin and crypto