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SOL Morgan Stanley has completed the deployment of cryptocurrency trading on the E*TRADE platform, charging a 0.50% fee for each transaction
Morgan Stanley has officially launched Bitcoin, Ethereum and Solana trading services on the E*TRADE platform. Eligible customers are required to pay a 0.50% handling fee for each transaction.
Summary
E*TRADE now allows eligible customers to trade Bitcoin, Ethereum and Solana for a fee of 0.50%.
Morgan Stanley plans to launch a cryptocurrency transfer service later this year and migrate it to its digital trust bank.
This deployment complements Morgan Stanley's Bitcoin positions, cryptocurrency ETFs and lending arrangements with Galaxy Digital.
E*TRADE said in an announcement that supporting customers can now directly buy, sell and hold these three digital assets through its brokerage platform. Zerohash provides the underlying cryptocurrency infrastructure and holds related assets on behalf of customer accounts.
According to E*TRADE, a handling fee of 50 basis points is charged per transaction. The current service covers trading and custody, and a cryptocurrency transfer feature is expected to be launched later this year, allowing customers to transfer supported assets into or out of their accounts.
Following the launch of the pilot in May, this full deployment is open to all eligible E*TRADE customers. Morgan Stanley has previously disclosed that it plans to increase direct spot cryptocurrency trading in 2025.
Morgan Stanley is simultaneously expanding multiple cryptocurrency services. The launch of E*TRADE comes as Morgan Stanley is preparing to launch two exchange-traded funds linked to Ethereum and Solana. It was previously reported that the revised S-1 document for these two products showed that their launch dates were approaching, but the document did not provide an exact trading time.
Earlier this year, Morgan Stanley also launched a spot Bitcoin ETF, becoming the first bank to offer such a product. According to data, the fund had accumulated net assets of US$384 million at the time of reporting.
The direct trading feature provides E*TRADE clients with another avenue of cryptocurrency exposure in addition to the Morgan Stanley Investment Fund. Unlike ETF shares, the new service allows eligible users to hold underlying Bitcoin, Ethereum and Solana directly through Zerohash, and the planned transfer feature will give customers more control over these assets.
According to a report, in the first two weeks ended July 11, Morgan Stanley increased the Bitcoin positions it tracked by nearly 1000 BTC, when its reported positions exceeded 5700 BTC.
Digital Trust Bank to Take Over Cryptocurrency Services
Later this year, E*TRADE is expected to transfer cryptocurrency services from Zerohash to Morgan Stanley Digital Trust, the group's planned national trust bank. The brokerage linked the transition to the introduction of money transfer services, but did not provide a specific launch date.
Morgan Stanley applied to the U.S. Office of the Comptroller of the Currency earlier this year to establish a national trust bank license focusing on cryptocurrencies. Its application puts it in the same league as companies such as Coinbase, Crypto.com and Ripple, which the OCC has previously given conditional approval. Circle has also received OCC approval to establish a national trust bank focused on digital assets. The USDC issuer received conditional approval in 2025 along with BitGo, Fidelity and Paxos.
Morgan Stanley Wealth Management added another cryptocurrency channel through a recommendation agreement with Galaxy Digital in June. Under the arrangement, eligible ultra-high-net-worth customers can lend Bitcoin, Ethereum and Solana to Galaxy and receive a share of spot cryptocurrency investment products, including the Morgan Stanley Bitcoin Trust.
Taken together, the deployment of E*TRADE, pending ETFs, and digital trust applications incorporate transactions, investment products, loan recommendations and custody infrastructure into Morgan Stanley's disclosed cryptocurrency plans. Each service is subject to separate qualification rules, fees and regulatory arrangements set by the respective company.
