One of Wall Street’s largest financial institutions, Morgan Stanley, has announced plans to launch cryptocurrency trading on its E*Trade platform in the first half of 2026, facilitated through a partnership with Zerohash, a company specializing in infrastructure for digital assets.
Reuters reported on Tuesday that E*Trade clients will initially have the opportunity to trade major cryptocurrencies, including the market’s leading asset Bitcoin (BTC), as well as Ethereum (ETH) and Solana (SOL).
E*Trade To Launch Crypto Trading
Morgan Stanley’s move comes as a response to competition within the industry. Rivals such as Robinhood (HOOD) already provide access to a wide range of cryptocurrencies, while Charles Schwab offers exchange-traded funds linked to Bitcoin and Ethereum.
As the digital assets market currently stands at approximately $3.9 trillion, with Bitcoin alone accounting for around $2.25 trillion and Ethereum about $506 billion, the stakes are high for financial firms looking to engage in this evolving landscape.
The decision to embrace crypto trading reflects a broader trend within the financial sector. Once viewed as a speculative asset class, cryptocurrencies have matured into a multi-trillion-dollar market, capturing the attention of Wall Street banks, asset managers, and retail investors alike.
As highlighted by the report, the supportive regulatory environment established by the Trump administration has contributed to this transformation, encouraging financial institutions to broaden their offerings in the crypto space to capitalize on its lucrative potential.
Morgan Stanley Monitors Stablecoin Developments
In a related development, Zerohash announced that it has achieved unicorn status following a recent funding round that raised $104 million, led by Interactive Brokers, with participation from Morgan Stanley and SoFi among others.
Additionally, other major financial players are exploring various avenues in the crypto sector. Citigroup is contemplating the introduction of stablecoin custody services and crypto-focused exchange-traded funds (ETFs), while Bank of America is reportedly developing its own stablecoin, although no specific timeline has been disclosed.
Morgan Stanley is also keeping a close eye on stablecoin developments, with CFO Sharon Yeshaya acknowledging their potential benefits while noting that it remains early to assess their impact on the bank’s operations.
Even firms like JPMorgan Chase, led by CEO Jamie Dimon—who has historically expressed skepticism about Bitcoin—are now considering involvement in the realm of stablecoins, indicating a shift in attitudes within the industry.
Despite an initial recovery to retest all-time high levels above the $120,000 mark, the leading cryptocurrency has retraced once again back to $112,867, the lower range of its ongoing consolidation phase between $110,000 and $115,000.
All major cap altcoins like Ethereum, XRP, and Solana have also faced similar challenges on the weekly time frame, recording losses of 6%, 5%, and 7% respectively.
Featured image from CNN, chart from TradingView.com
