TLDR
- Morgan Stanley’s E*Trade will launch crypto trading for Bitcoin, Ether, and Solana in the first half of 2026
- The platform will partner with Zerohash, a crypto infrastructure provider that raised $104 million at a $1 billion valuation
- E*Trade acquired by Morgan Stanley in 2020 for $13 billion, serves over 5.2 million users
- Morgan Stanley has allowed wealth advisers to pitch Bitcoin ETFs to clients since August 2024
- The move follows regulatory shifts under President Trump and the passage of the GENIUS Act for stablecoin framework
Morgan Stanley’s E*Trade brokerage will launch cryptocurrency trading in early 2026, allowing millions of retail clients to buy and sell digital assets for the first time. The discount brokerage will offer trading for Bitcoin, Ether, and Solana through a partnership with crypto infrastructure provider Zerohash.
🚨 Morgan Stanley's E*Trade to List Digital Assets in 1H26 in Partnership with ZeroHash.$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
E*Trade serves more than 5.2 million users after Morgan Stanley acquired the platform for $13 billion in 2020. The brokerage focuses on retail investors and offers trading for traditional securities like stocks, bonds, and exchange-traded funds.
Jed Finn, Morgan Stanley’s head of wealth management, described the crypto launch as the first phase of a broader digital asset strategy. The bank plans to develop a complete wallet solution for clients through its Zerohash partnership.
The announcement confirms earlier reports from May 2024 that E*Trade was exploring crypto trading options. At that time, the initiative remained in early development stages as the company searched for suitable infrastructure partners.
Zerohash Partnership Details
Zerohash will provide the technical infrastructure for E*Trade’s crypto trading platform. The company raised $104 million in funding at a $1 billion valuation in a round led by Interactive Brokers, with Morgan Stanley also participating as an investor.
The crypto infrastructure firm specializes in trading technology, tokenization services, and stablecoin solutions for financial institutions. Zerohash will build the wallet infrastructure that E*Trade clients will use to store their digital assets.
Bloomberg reported that the partnership will create a full-service crypto solution within the E*Trade platform. This approach mirrors what other major brokerages have implemented to serve retail crypto demand.
Competition in Retail Crypto Trading
E*Trade faces competition from Robinhood, which has established itself as a leading retail crypto platform. Robinhood expanded its crypto services through the $200 million acquisition of European exchange Bitstamp earlier this year.
The retail brokerage market has seen increased crypto adoption as traditional financial firms enter the space. Major platforms now view crypto trading as essential for attracting younger investors and competing for market share.
E*Trade’s crypto launch represents one of the largest traditional brokerages adding digital asset trading. The move could bring crypto access to millions of additional retail investors who use the platform for stock trading.
Morgan Stanley has gradually increased its crypto exposure since 2024. The bank began allowing wealth advisers to pitch Bitcoin ETFs to eligible clients in August 2024, marking its initial direct involvement in crypto products.
CEO Ted Pick stated at the World Economic Forum that Morgan Stanley was exploring crypto’s transactional applications. The bank has also developed research on stablecoins and their potential role in reinforcing dollar dominance globally.
The crypto expansion comes after regulatory changes under President Trump’s administration. The GENIUS Act established a comprehensive framework for stablecoin issuers, providing clearer guidelines for financial institutions entering the crypto space.
Morgan Stanley is preparing asset allocation frameworks that will include crypto exposure ranging from zero to several percentage points based on client investment goals. The bank views blockchain technology as proven infrastructure that will continue expanding across financial services.
