Morgan Stanley has announced it will enable cryptocurrency trading on its ETrade platform in the first half of 2026 in partnership with digital asset infrastructure provider Zerohash. At launch, clients will be able to trade Bitcoin, Ethereum, and Solana.
Key Takeaways
- ETrade users will gain access to BTC, ETH, and SOL trading starting in early 2026 through a partnership with Zerohash
- Zerohash raised $104 million in a funding round that values it at $1 billion, with Morgan Stanley and Interactive Brokers among the backers
- Morgan Stanley calls this “phase one” of a broader strategy that includes a wallet solution and possible tokenization of traditional assets
- Supportive legislation under the Trump administration is accelerating institutional entry into the crypto space
What Happened?
Morgan Stanley will allow retail clients of its ETrade platform to trade Bitcoin, Ethereum, and Solana starting in 2026. The new feature will be powered by Zerohash, a crypto infrastructure provider that handles custody, settlement, and other backend services.
Zerohash recently completed a $104 million Series D‑2 funding round, led by Interactive Brokers with participation from Morgan Stanley, SoFi, and Jump Crypto, pushing its valuation to $1 billion.
According to Jed Finn, Morgan Stanley’s Head of Wealth Management, the crypto rollout is only “phase one”. The company plans to eventually offer a full wallet solution and support tokenized financial assets. Solana, one of the tokens offered at launch, is also a leading network for tokenization, with a total value of over $670 million.
🚨 Morgan Stanley’s E*Trade to List Digital Assets in 1H26 in Partnership with ZeroHash.$MS Will Also Invest in ZeroHash’s $100M Raise Led by $IBKR, at a Reported $1B Valuation. Additional participants include SoFi, Jump, and some Apollo funds. pic.twitter.com/KcytikydvM
— matthew sigel, recovering CFA (@matthew_sigel) September 23, 2025
Strategic Context and Expansion
Morgan Stanley’s move reflects a broader shift among traditional financial institutions, which are accelerating their involvement in digital assets. Until now, Morgan Stanley’s crypto activity was mostly limited to Bitcoin ETFs and tokenization ventures. This is one of its first direct offerings for retail investors.
ETrade, acquired by Morgan Stanley in 2020 for $13 billion, already serves over 5.2 million users. With this crypto rollout, the platform becomes a more formidable competitor to brokers like Robinhood, which has aggressively expanded its crypto capabilities and even acquired Bitstamp for $200 million.
As part of this strategic roadmap, Zerohash is also tasked with building a wallet solution for ETrade clients, signaling long-term plans to integrate broader digital asset services.
Regulatory Environment and Market Timing
The decision to launch crypto trading now is driven by what Morgan Stanley sees as regulatory clarity under the Trump administration. A recent legislative breakthrough, the GENIUS Act, established a formal legal framework for stablecoin issuers, encouraging financial institutions to accelerate crypto initiatives.
A 2024 paper by Andrew Peel, Morgan Stanley’s Head of Digital Asset Markets, argued that stablecoins could support US dollar dominance, aligning with this new regulatory vision.
Zerohash CFO Adam Berg said that nearly every major financial institution is now prioritizing crypto innovation. He added that many CEOs he met are spending more than half their time on blockchain strategies.
CoinLaw’s Takeaway
In my experience, this is the most serious commitment Morgan Stanley has made to crypto so far. Offering retail crypto trading through a well-known platform like ETrade means millions of users will soon have trusted access to digital assets. I found this particularly significant because it shows how Wall Street is no longer sitting on the sidelines. They’re investing money, resources, and time into building the next phase of digital finance. This move could legitimize crypto for the average investor and increase mainstream adoption faster than most people expect.
