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Morgan Stanley doubles down on crypto with spot trading and tokenized equities

Wall Street giant Morgan Stanley is betting big on digital assets. From Bitcoin ETFs to spot trading, here's how they're reshaping finance for retail and institutional investors.

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The image shows a white background with a pie chart depicting the crypto-currency market...
The image shows a white background with a pie chart depicting the crypto-currency market capitalizations in 2016. The chart is divided into sections, each representing a different type of cryptocurrency, such as Bitcoin, Ethereum, Litecoin, and Litecoin. The text accompanying the chart provides further details about the capitalizations.

Morgan Stanley doubles down on crypto with spot trading and tokenized equities

Morgan Stanley has expanded its cryptocurrency services with two major moves. In October 2022, the bank launched a spot bitcoin exchange-traded fund (ETF), and it has now introduced spot crypto trading on its E*Trade platform. The firm is also preparing to offer tokenized equities trading for institutional investors later this year. The bank’s spot bitcoin ETF, named MSBT, went live in October 2022. Within its first six trading days, the fund attracted $103 million in net inflows. Since then, its assets under management have grown to over $205 million.

Morgan Stanley has now taken another step by launching a live pilot for spot cryptocurrency trading on ETrade. The service is currently available to a select group of users, with plans to roll it out to all 8.6 million ETrade clients later in 2023. Each transaction carries a fee of 50 basis points.

Beyond retail trading, the bank is preparing to offer tokenized equities trading for institutional clients in the second half of 2023. Additionally, Morgan Stanley aims to let clients convert cryptocurrency directly into shares of exchange-traded products without needing to sell their holdings first. The bank’s push into crypto services comes as it manages the sixth-largest pool of assets in the U.S. The expansion includes spot trading for retail customers and upcoming tokenized equities for institutions. These moves signal a broader integration of digital assets into Morgan Stanley’s financial offerings.

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