Morgan Stanley Gets Serious About Crypto — and Hires a Heavy-Hitter

Oldenburg isn’t some external hire parachuted in from a boutique blockchain shop. She’s been with Morgan Stanley since 2001, rising through the ranks and most recently leading the firm’s Emerging Markets Equity team while also pushing its digital asset initiatives since late 2021. That blend of traditional finance credibility and internal digital-asset influence gives her a rare dual mandate: build crypto muscle without alienating old-school investors.

The ETF Push

This appointment comes on the heels of Morgan Stanley’s crypto ETF push — filings for spot Bitcoin, Solana, and staked Ether ETFs — and signals real institutional intent after years of wallflower status in crypto markets. If these products win regulatory approval, the bank’s 19 million wealth-management clients could finally get direct exposure through legacy rails. No surprise that Morgan Stanley wants in after BlackRock’s Bitcoin ETF became it’s most profitable ETF product.

Oldenburg has publicly pushed for self-custody and better infrastructure, not just passive ETF exposure — a nuance many big banks skip. She’s been on record supporting “Not your keys, not your coins” principles and stressing custody innovation, especially for emerging markets — telling because it shows a philosophy that goes beyond selling ETF tickers.

Expect Morgan Stanley to staff up around her: current job listings show openings for digital asset strategists and product leads, hinting at a broader build-out. In a market where legacy banks tiptoe around crypto, Morgan Stanley might actually move the needle — or at least force competitors to recalibrate their crypto posture