In a significant move for the financial market, Morgan Stanley is gearing up to introduce cryptocurrency trading services through its ETrade platform in early 2026. This initiative will be powered by a strategic collaboration with Zerohash, a leader in digital asset infrastructure.
According to a recent Reuters report, ETrade clients will have the ability to trade major cryptocurrencies starting with top players like Bitcoin (BTC), Ethereum (ETH), and Solana (SOL).
Launch of Crypto Trading on ETrade
This bold initiative by Morgan Stanley is a direct response to intensifying competition in the fintech sector. Competitors like Robinhood already provide access to various digital currencies, while Charles Schwab innovates through Bitcoin and Ethereum-linked exchange-traded funds.
The cryptocurrency market is currently valued at an impressive $3.9 trillion, with Bitcoin holding around $2.25 trillion and Ethereum at approximately $506 billion. Such substantial figures underscore the urgency for financial institutions to engage in this dynamic market.
The endorsement of cryptocurrency trading underscores a profound change within the financial landscape. Once dismissed as a transient phenomenon, cryptocurrencies have evolved into a substantial market, attracting the interest of Wall Street banks, institutional investors, and everyday traders.
As noted in the report, the regulatory framework established over recent years has played a pivotal role in this evolution, encouraging financial service providers to diversify their offerings to harness opportunities in the crypto domain.
Monitoring Stablecoin Innovations
In alignment with this trend, Zerohash recently celebrated achieving unicorn status after securing $104 million in a funding round spearheaded by Interactive Brokers, with Morgan Stanley and SoFi also contributing.
Moreover, various financial giants are exploring numerous prospects in the cryptocurrency space. Citigroup is contemplating offering stablecoin custody services alongside crypto-focused ETFs, while Bank of America is reportedly venturing into creating its own stablecoin, though no specific dates have been mentioned.
Morgan Stanley is closely watching advances in stablecoin technology, with CFO Sharon Yeshaya recognizing their potential advantages while cautioning that it is still premature to determine their influence on the bank’s overall strategy.
Even companies such as JPMorgan Chase, traditionally skeptical under CEO Jamie Dimon, are reevaluating their strategy regarding stablecoins, signalling a notable shift in industry perspectives.
Following a brief resurgence that tested all-time highs above the $120,000 landmark, Bitcoin has pulled back to around $112,867, continuing its consolidation phase within the $110,000 to $115,000 range.
Other major altcoins such as Ethereum, XRP, and Solana have faced similar pressures on a weekly basis, witnessing losses of approximately 6%, 5%, and 7% respectively.
Image credit: CNN, chart data sourced from TradingView.com.
