Morgan Stanley Bolsters Crypto Holdings with XRP ETFs and SPAC Investments

Morgan Stanley has made its move into cryptocurrencies by disclosing new holdings in XRP ETFs and increasing its stake in Ripple-backed Evernorth Holdings's SPAC partner Armada Acquisition Corp II.

This development marks a significant expansion of the Wall Street giant's presence in the cryptocurrency market, which includes increased holdings in Bitcoin and Ethereum.

XRP has been a focal point for Morgan Stanley's investment activities in recent times, with the company reportedly increasing its stake in Ripple-backed Evernorth Holdings's SPAC partner Armada Acquisition Corp II.