Morgan Stanley brings spot crypto trading to ETRADE platform

Morgan Stanley has activated spot cryptocurrency trading on its E*TRADE brokerage platform, giving eligible clients the ability to buy, sell, and hold Bitcoin, Ethereum, and Solana. The service is facilitated through a partnership with digital asset infrastructure provider Zero Hash, which handles trade execution and custody. Crypto transfer capabilities are expected to be added to the platform later this year.

Customers will see their digital asset balances integrated alongside traditional equities and other investments within their existing E*TRADE dashboards. Each crypto trade on the platform carries a fee of 50 basis points. However, the digital assets themselves are held in linked accounts managed by Zero Hash rather than directly by Morgan Stanley.

The rollout completes a plan Morgan Stanley first disclosed in September 2025. It represents the latest milestone in a broader digital asset strategy that the bank has been systematically assembling throughout the year. “With the rollout of crypto trading on E*TRADE we're advancing our digital assets strategy and bringing new capabilities to clients in an integrated way,” said Chad Turner, head of Morgan Stanley Wealth Management Platforms.

Earlier this year, the bank filed registration statements with the Securities and Exchange Commission for spot Bitcoin and Solana exchange-traded funds. In April, Morgan Stanley announced it was exploring tokenization and tax-management tools for digital assets. Later that month, the bank introduced a money market fund specifically designed for stablecoin issuers to manage reserves under the GENIUS Act.

The decision to offer direct spot trading reflects shifting demands among self-directed investors. “Our clients’ needs are evolving, and they want to invest, trade, bank, and plan for the future all in one place,” said Matt Jones, Head of E*TRADE. He noted that the firm aims to meet clients "with the confidence and trust that comes from being part of Morgan Stanley."

By relying on Zero Hash for the operational backend, Morgan Stanley can offer direct cryptocurrency exposure without taking on the direct custody risks that have historically kept large banks out of the spot market. The crypto launch coincides with a wider E*TRADE update that includes new retirement planning tools, fractional share trading, and an upgraded IPO center.