Jed Finn, Head of Wealth Management at Morgan Stanley, announced at the Consensus 2026 conference that traditional finance (TradFi) will integrate decentralized finance (DeFi) rather than be disrupted by it. Finn anticipates that in five years, DeFi will be indistinguishable from traditional finance. He also highlighted the promising future of public blockchains over private ones, which he believes will encounter significant challenges. Morgan Stanley is set to launch a new product in the coming weeks, allowing clients to transfer crypto assets from external platforms into Morgan Stanley accounts. These assets can then be converted into ETFs, enabling clients to borrow against them without selling and incurring tax liabilities.