Morgan Stanley’s E*TRADE Launches Spot Crypto Trading Through Zero Hash
Vexoda Newsroom
E*TRADE, a subsidiary of Morgan Stanley, has partnered with Zero Hash to offer spot cryptocurrency trading for eligible retail clients. The service includes Bitcoin, Ether and Solana, marking an expan
Morgan Stanley’s E*TRADE platform recently launched spot cryptocurrency trading through its partnership with crypto infrastructure provider Zero Hash, enabling eligible retail clients to buy, sell and hold cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH) and Solana (SOL).
The move comes after a successful pilot program that began in May, when the service was tested with a limited group of users before being expanded to all eligible E*TRADE clients. The platform now allows customers to view their crypto holdings alongside traditional investments like stocks.
E*TRADE’s self-directed channel serves 8.6 million households and holds approximately $1.56 trillion in client assets, highlighting the potential for significant market penetration with this new offering. However, trades carry a 50-basis-point fee, while custody and transaction services are handled through separate Zero Hash accounts that do not benefit from FDIC or SIPC protections.
Beyond retail spot trading, Morgan Stanley has also expanded its digital asset business into stablecoin reserve services and crypto exchange-traded funds (ETFs). In April, the company launched a low-cost Bitcoin ETF with a 0.14% management fee, making it one of the lowest-cost options on the US market.
The launch of E*TRADE’s spot cryptocurrency trading platform is part of Morgan Stanley's broader strategy to integrate digital assets into its existing financial services offerings. This move could attract more retail investors and bolster their presence in the crypto space, potentially influencing broader market dynamics.
Traders should monitor how this new service impacts user adoption rates and whether it leads to increased trading volumes on E*TRADE’s platform. Additionally, attention will be paid to any regulatory developments that may affect custody services or fee structures.
Source: Cointelegraph. Summarized and rewritten by the Vexoda Newsroom. This is market news, not financial advice.