Morgan Stanley Stock Hits Record High On Plans To Offer Crypto Trading To E*Trade Clients: Report

Shares of Morgan Stanley (MS) were on track for a record close in midday trade on Tuesday after the company reportedly announced it was partnering with cryptocurrency startup Zerohash to let its E*Trade clients trade popular tokens.

Morgan Stanley’s stock rose more than 1.8% on Tuesday, reaching an intraday high of $163.98. At the time of writing, the stock had eased slightly but remained up 1.3%, marking a fifth consecutive day of gains. 

Jed Finn, the head of wealth management at the bank, told Bloomberg that the new initiative will initially cover Bitcoin (BTC), Ether (ETH), and Solana (SOL). “Phase one” will let clients trade these coins, with plans to expand into a full wallet solution in the future, he added. The new offering is expected to go live in the first half of 2026, according to the report.

At the time of writing, Bitcoin’s price had edged 0.2% higher in the last 24 hours. Meanwhile, Ethereum’s price gained 0.6% and Solana’s price rose 0.4%. 

Morgan Stanley’s move coincides with Zerohash’s announcement that it raised $104 million in Series D funding on Tuesday, valuing the firm at $1 billion. Morgan Stanley participated in the round, which was led by Interactive Brokers Group (IBKR). 

“The underlying technology has been proven and blockchain-based infrastructure is obviously here to stay,” Finn told Bloomberg. “Clients should have access to digitized assets, traditional assets and cryptocurrencies, all in the same ecosystem that they’re used to.”

Morgan Stanley’s partnership is the latest in a growing wave of efforts by major U.S. banks to expand into digital assets, following a shift to more crypto-friendly regulatory policy under President Donald Trump earlier this year. In July, PNC (PNC) announced a collaboration with Coinbase (COIN) to enable crypto trading for its customers. Later that same month, JPMorgan (JPM) revealed plans to partner with Coinbase, allowing clients to fund their wallets with Chase credit cards and purchase cryptocurrency on the exchange starting in fall 2025.

Read also: XRP Tops Altcoins As Crypto Markets Stabilize After $1.68 Billion Futures Liquidation

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