Morgan Stanley has completed the rollout of spot crypto trading on its E*TRADE platform, allowing eligible retail clients to buy, sell and hold Bitcoin, Ethereum and Solana directly within their brokerage accounts. The service, powered by digital asset infrastructure provider zerohash, charges a 50 basis point fee and displays crypto holdings alongside stocks and other traditional investments. Transfer functionality is expected to be added later this year.
Integrated Crypto Trading Through a Third-Party Provider
E*TRADE clients access crypto trading via a linked zerohash account, with Morgan Stanley handling execution and custody. The digital asset positions are visible in the same portfolio view as equities, bonds and ETFs, but are not covered by FDIC or SIPC insurance. The arrangement allows Morgan Stanley to offer crypto without building its own trading and custody infrastructure internally.
Chad Turner, head of Morgan Stanley Wealth Management Platforms, said the rollout advances the firm's digital assets strategy and brings new capabilities to clients in an integrated way. The move follows a company survey that found 32% of respondents consider trust in an established company as the most important factor when choosing a crypto platform, while 26% cited the ability to view digital assets alongside traditional investments.
Regulatory Path and Platform Upgrades
The crypto services are expected to eventually transition to Morgan Stanley Digital Trust, a national trust bank currently being organized, which would bring more of the infrastructure under the bank's regulated umbrella. The launch is part of a broader E*TRADE platform upgrade that includes fractional share trading, an expanded IPO center and new tools for active investors.
By embedding crypto into the familiar brokerage experience rather than treating it as a separate product, Morgan Stanley is betting that integration will attract retail clients who want exposure to digital assets without leaving their primary investment account. Morgan Stanley stock (NYSE: MS) traded at $220.66 per share at the time of the announcement.