Morgan Stanley Stock Hits Record High On Plans To Offer Crypto Trading To E*Trade Clients: Report
Synopsis
Jed Finn, the head of wealth management at the bank, told Bloomberg that the new initiative will initially cover Bitcoin, Ether, and Solana.
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.
The 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).
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