Morgan Stanley plans to introduce cryptocurrency trading on its E*trade platform starting in the first half of 2026, through a partnership with Zerohash, a provider of digital asset infrastructure.
E*Trade clients will be able to trade bitcoin, the world’s largest crypto token, as well as ether and solana through this launch, Reuters reported citing a spokesperson for Morgan Stanley.
Enabling clients to trade coins is just “phase one,” Jed Finn, head of wealth management of Morgan Stanley, told Bloomberg News, further mentioning that the firm will try to create a full wallet solution for clients.
“The underlying technology has been proven and blockchain-based infrastructure is obviously here to stay,” Finn said in an interview. “Clients should have access to digitised assets, traditional assets and cryptocurrencies, all in the same ecosystem that they’re used to,” he added.
Morgan Stanley’s partnership represents the latest effort by major banks to expand into digital assets following a significant shift in regulatory policy when President Donald Trump assumed office earlier this year. Bloomberg News reported in May that Morgan Stanley was developing a plan to include crypto trading on its E*Trade platform, alongside other firms such as Charles Schwab Corp., which have planned similar offerings.
Surge in crypto trading
Cryptocurrencies, once considered a niche and speculative asset class, have expanded into a trillion-dollar market over the past decade, attracting Wall Street banks, asset managers, and retail investors.
E*Trade’s competitor Robinhood Markets Inc. offers trading in a broad selection of crypto tokens, whereas Charles Schwab enables investors to access exchange-traded funds linked to bitcoin and ether.
Robinhood earned $626 million from this business last year, representing 21% of its total net revenue.
The digital assets market is presently valued at approximately $3.9 trillion, with bitcoin representing about $2.25 trillion and ether stood at roughly $506 billion, according to data from CoinMarketCap.
Zerohash announced on Tuesday that it achieved unicorn status following a $104 million funding round. The round was led by Interactive Brokers, with participation from Morgan Stanley, SoFi, and other investors.
(With inputs from agencies.)