Morgan Stanley said on July 16 that its discount brokerage E*TRADE has formally opened spot trading for Bitcoin (BTC), Ether (ETH) and Solana (SOL). Eligible clients can now buy, sell and hold the three crypto assets directly through the E*TRADE platform.
E*TRADE adds spot access for BTC, ETH and SOL
In Morgan Stanley’s announcement, the service covers three tokens at launch: BTC, ETH and SOL. Custody and trading infrastructure are handled by Zero Hash, and the fee is 50 basis points per transaction, equal to 0.5%.
The firm said crypto assets can be displayed in the E*TRADE account interface alongside traditional portfolio holdings. That means clients do not need to move back and forth between the brokerage app and an external crypto wallet to view those positions. Cross-platform deposit and withdrawal functions are scheduled to arrive later this year.
Zero Hash custody structure uses separate client accounts
Under the current setup, client positions in BTC, ETH and SOL are not held directly by Morgan Stanley. Instead, they are placed in non-securities accounts opened by Zero Hash and separately established in each client’s name.
Morgan Stanley said in its notice that those positions “are not covered by FDIC deposit insurance or SIPC protection.” The company framed that structure as the standard custody model used when mainstream brokerages enter the spot crypto market, keeping the responsibilities of traditional securities businesses distinct from digital asset custody.
Digital asset services are set to move to Morgan Stanley Digital Trust
Morgan Stanley also said digital asset services will eventually be transferred to its planned national trust bank, Morgan Stanley Digital Trust, National Association.
That indicates the current outsourced custody arrangement with Zero Hash is transitional. Over the longer term, Morgan Stanley plans to bring crypto custody and related services into its own legal entity structure. ABMedia noted that this lines up with a January report by Chain News on Morgan Stanley’s 2026 crypto plan, which described a three-track push across wallets, ETFs and trading.
Executives’ comments and investor survey results
E*TRADE CEO Matt Jones said in the announcement: “Customers’ needs are evolving, and they want to invest, trade, manage and plan for their future all in one place—whether they are buying their first stock, exploring cryptocurrency, participating in an IPO, or preparing for retirement.”
Chad Turner, head of platforms for Morgan Stanley Wealth Management, said the launch represents “progress in our digital asset strategy.”
Morgan Stanley also cited its latest Wealth Management Pulse Survey. Among 940 U.S. self-directed investors, 32% said the most important factor in choosing a crypto trading platform was “an established company I can trust.” The next-ranked factors were the ability to view crypto alongside traditional investment positions at 26%, low or zero fees at 25%, and competitive token pricing at 23%.
The survey was conducted by Dynata from April 1 through April 20, 2026.