Overview

• E*Trade retail clients are slated to get spot crypto trading in the first half of 2026 through a partner model run by Zerohash, which will provide liquidity, custody and settlement, and in which Morgan Stanley holds an investment stake.
• At launch, trading will cover bitcoin, ether and solana, with executives describing the initial rollout as a limited first step.
• Head of wealth management Jed Finn called the move phase one of a larger strategy to build a wallet so clients can custody digital assets alongside traditional holdings.
• The roadmap includes exploring tokenized versions of traditional assets to improve settlement efficiency and integrating crypto into a client asset-allocation framework with suggested low single‑digit percentages for some profiles.
• Zerohash said it raised $104 million at a unicorn valuation in a round led by Interactive Brokers with participation from Morgan Stanley, as rivals like Robinhood and Charles Schwab broaden crypto access in a friendlier U.S. regulatory climate.