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Morgan Stanley is set to launch crypto trading for retail clients via its E*Trade platform, marking a significant step for a Wall Street bank into the realm of Bitcoin and digital assets.
The bank is teaming up with cryptocurrency infrastructure provider Zerohash to handle liquidity, custody, and settlement, as reported by Bloomberg.
Trading is anticipated to commence in the first half of 2026, initially focusing on Bitcoin, Ethereum, and Solana.
Essentially, Morgan Stanley aims not just to allow customers to purchase Bitcoin, but to create an environment where both traditional and digital assets coexist within the same account.
Earlier this year, Morgan Stanley unveiled plans to incorporate spot Bitcoin and crypto trading into its E*Trade platform sometime in 2026, although specific details about timing and infrastructure were not disclosed.
‘Just the beginning’
Jed Finn, head of wealth management at Morgan Stanley, described this shift as a “transformative moment” for the financial industry.
“Providing clients with the capability to trade crypto is just the beginning,” Finn remarked, indicating that the firm seeks to develop a comprehensive wallet solution for asset custody and tokenization, according to CNBC.
This timing reflects a wider transformation in regulatory attitudes since the Trump administration, which has facilitated banks’ entry into the crypto market.
Competitors such as Charles Schwab are also looking into similar offerings, while Robinhood has consistently profited — generating over $600 million from crypto trading last year, which accounts for approximately one-fifth of its total revenue.
Morgan Stanley is not only providing trading access; it is also making direct investments in Zerohash, which recently secured $104 million at a $1 billion valuation. This investment provides the bank a stake in the foundational layer of crypto markets as well.
Finn also highlighted that the bank is investigating tokenization, a process that leverages blockchain technology to create digital representations of conventional assets such as stocks, bonds, and cash, aiming to innovate back-office practices.
For instance, tokenized cash could start earning interest immediately upon entering a wallet. Put simply: rather than your funds sitting idle, they begin to work for you the instant you receive them.
The firm also intends to introduce a crypto-inclusive asset allocation strategy in the upcoming weeks, with recommended portfolio distributions varying from zero to a few percentage points based on client objectives, as reported.
For advocates of Bitcoin, even a modest allocation from a major bank like Morgan Stanley signifies a considerable advancement toward mainstream acceptance.
