Morgan Stanley has successfully integrated Bitcoin, Ethereum, and Solana trading on E*TRADE, imposing a 0.50% fee on eligible transactions. This development allows clients to engage in direct trading of these digital assets, with each transaction incurring a fee of 50 basis points.
The new offering enables clients to buy, sell, and hold cryptocurrencies through E*TRADE's brokerage platform. The underlying infrastructure for this service is provided by Zerohash, which manages the assets in clients' linked accounts. This move marks a significant expansion of Morgan Stanley's crypto services, which now also includes crypto ETFs and a lending arrangement with Galaxy Digital.
Future Services and Expanding Offerings
Following the successful pilot program initiated in May, the rollout has made the trading service available to all eligible E*TRADE customers. Morgan Stanley aims to introduce crypto transfers later in the year, allowing clients to transfer supported assets to and from their accounts. This feature will enhance customer control over their digital holdings, distinguishing it from traditional ETF shares.
In addition to these offerings, Morgan Stanley has revealed plans to launch two exchange-traded funds associated with Ethereum and Solana. Recent S-1 filings indicate these products will soon be available for trading, although exact dates have not yet been confirmed. Earlier this year, the firm also introduced a spot Bitcoin ETF, becoming the first bank to offer this product, which reported net assets of $384 million at the time.
On top of these advancements, Morgan Stanley has increased its Bitcoin holdings significantly, acquiring nearly 1,000 BTC in the weeks prior to July 11. This brought its total holdings to over 5,700 BTC.
Looking ahead, E*TRADE plans to transition the crypto offering from Zerohash to the upcoming Morgan Stanley Digital Trust, a national trust bank planned for launch later this year. This transition is linked to the anticipated introduction of the transfer services.
This material is for informational purposes only and should not be considered financial advice.
