Morgan Stanley, which manages $1.7 trillion, is stepping into crypto trading by teaming up with ZeroHash.
According to a Bloomberg report, the bank will allow its retail clients to buy and sell Bitcoin, Ethereum, and Solana through E-Trade starting in the first half of next year.
Jed Finn, head of wealth management, called this move only the beginning. He said the firm will later build a wallet system so clients can store crypto along with traditional assets.
“Clients should have access to digitized assets, traditional assets and cryptocurrencies, all in the same ecosystem that they’re used to,” Finn explained.
The partnership reflects how large banks are moving quickly into digital assets. JPMorgan earlier this year worked with Coinbase to improve crypto purchases, while Charles Schwab also revealed similar plans. Rivals have seen big returns, with Robinhood making $626 million from crypto trading last year.
ZeroHash is providing the technology behind Morgan Stanley’s service. The company recently raised $104 million in funding led by Interactive Brokers, with Morgan Stanley also investing.
“Every bank that has a trading or private wealth arm will offer crypto to their customers as a spot contract.” ZeroHash chief executive Edward Woodford said.
Finn added that Morgan Stanley will soon launch a crypto allocation strategy for clients. The plan will give exposure that can range from zero to a few percent, depending on goals. He also revealed that trading crypto is just “phase one” and that the bigger aim is tokenization.
He noted that tokenized assets could include stocks, bonds, and real estate. Finn believes tokenization could “significantly disrupt the wealth management industry.” The firm sees this as a way to prepare for a future where traditional and digital assets live side by side.
The move comes after U.S. policy shifts under President Donald Trump encouraged banks to expand into digital assets. Nasdaq has already filed to trade tokenized stocks, while Galaxy Digital is exploring the tokenization of its shares. Morgan Stanley’s step shows how Wall Street is racing to meet client demand.
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