Morgan Stanley is making strides to provide cryptocurrency trading options to retail clients via its E-Trade platform. According to recent reports, the firm is collaborating with Zerohash—a company specializing in crypto and stablecoin infrastructure—after participating in a significant funding round that raised $104 million.
Zerohash’s Series D-2 funding was led by Interactive Brokers, with contributions from several notable investors, including SoFi, Apollo-managed funds, Jump Crypto, Northwestern Mutual Future Ventures, FTMO, IMC, and Liberty City Ventures.
In a memo, CNBC reported that Zerohash will assist Morgan Stanley with key aspects such as liquidity, custody, and settlement related to the cryptocurrency trading services on E-Trade. Jed Finn, the head of wealth management at Morgan Stanley, confirmed that preparations are underway to launch crypto trading for E-Trade clients in the first half of 2026.
Beyond cryptocurrencies, the bank is also exploring the introduction of tokenized versions of traditional assets. Finn noted, “We see immense potential not only in cryptocurrencies as an investment for our clients but also in distributed ledger technology and tokenization more broadly.”
Zerohash aims to utilize the new funding to expand its products and enhance its workforce. Adam Berg, CFO and CAO of Zerohash, remarked, “Every financial institution is seeking to provide access to the crypto asset class and innovate with this technology on a larger scale.” He added that many executives he has met with are dedicating a significant portion of their time to advancing on-chain innovation within their firms.