Catenaa, Sunday, September 28, 2025- Morgan Stanley is deepening its push into digital assets, investing in crypto infrastructure firm Zerohash and preparing to let E-trade clients trade cryptocurrencies.
The Wall Street bank joined a $104 million Series D-2 funding round for Zerohash, which was led by Interactive Brokers and backed by SoFi, Apollo-managed funds, and Jump Crypto. The deal lifted Zerohash’s valuation to $1 billion, cementing its status as a crypto unicorn.
Morgan Stanley plans to use Zerohash’s infrastructure to allow E-trade clients to buy and sell Bitcoin, Ethereum, and Solana, according to Bloomberg and CNBC.
The rollout is expected in the coming months, putting the platform in direct competition with Robinhood, which already offers crypto trading.
Jed Finn, head of wealth management at Morgan Stanley, told Bloomberg the initiative marks “phase one” of expanding digital asset access.
He said clients should be able to manage cryptocurrencies alongside traditional investments in one ecosystem.
The move reflects a broader trend among traditional financial institutions ramping up crypto exposure since regulatory barriers eased earlier this year under President Donald Trump.
Zerohash executives said banks are devoting significant resources to blockchain adoption, with many leaders spending half their time on on-chain strategies.
Morgan Stanley previously focused on Bitcoin ETFs and tokenization ventures. Its latest step signals a wider embrace of digital assets as demand grows among mainstream investors.
