Yes it could but that still wouldn't have some sort of deleterious effect on the broader system.

Money is economic kinetic energy. Assets are economic potential energy. And, by and large, any institution attempting to store and grow wealth through asset allocation will need to conduct continuous exchange operations back and forth between economic kinetic energy and economic potential energy, which is another way to describe investing.

This is, of course, a useful activity because it facilitates the transmutation of human self interest into productivity and social value. And, to the extent that such a system gives rise to negative externalities, it is the job of government to correct for that.