Spot ETH trading for retail clients on E*TRADE

E*TRADE from Morgan Stanley rolled out spot trading of bitcoin, ETH and solana to eligible clients on 16 July 2026, after testing it with a limited group of clients from May 2026. Clients buy, sell and hold the coins in a linked account at zerohash, at a price of 50 basis points, and see them beside their other investments on E*TRADE. Morgan Stanley says it does not itself transact in or hold the coins: trades and custody sit with Zero Hash LLC, outside Morgan Stanley and without FDIC or SIPC cover, and the service is to move to Morgan Stanley Digital Trust, National Association, a national trust bank still being organized. In July 2026 Morgan Stanley said transfers on and off the platform would follow later in the year. This is trading of ETH itself, held by zerohash, not tokenization.