Core Insights - ZeroHash has raised $104 million in a Series D-2 funding round, achieving a valuation of $1 billion, with participation from major financial institutions like Morgan Stanley and Interactive Brokers [1][2] - The total funding for ZeroHash now stands at $275 million, which will be used for product expansion and talent growth, aiming to become a leading provider of on-chain infrastructure [2][4] - The fundraising reflects a growing demand for enterprise-grade crypto infrastructure as financial institutions increasingly seek to offer tokenized assets and stablecoins [4] Company Overview - Founded in 2017, ZeroHash provides APIs and developer tools that enable financial institutions and fintechs to offer crypto, stablecoin, and tokenization products [3] - The platform supports solutions for notable clients such as Interactive Brokers, Stripe, and BlackRock, serving over 5 million users across 190 countries [3] Industry Trends - The investment round indicates a trend of increasing interest from financial institutions in building scalable on-chain solutions, highlighting the evolving landscape of crypto and stablecoin infrastructure [2][4]

Core Insights - Morgan Stanley is set to launch crypto trading for retail clients through its E-Trade division in the first half of 2026, marking a significant move into digital assets [1][2] - The initiative is part of a broader digital asset strategy, with the bank developing a robust wallet infrastructure for custody of client digital assets [3][4] - The announcement contrasts with recent recommendations from the bank's CIO, who favored gold over Bitcoin as a hedge against inflation [5][6] Group 1 - Morgan Stanley will begin offering crypto trading via a partner model with Zerohash for liquidity, custody, and settlement [2] - The head of wealth management at Morgan Stanley described the crypto trading initiative as "the tip of the iceberg" in terms of their digital asset strategy [3] - The bank is focusing on tokenization, which is expected to disrupt wealth management by bringing traditional assets onto blockchains [4] Group 2 - The CIO of Morgan Stanley recently recommended a portfolio strategy excluding Bitcoin, suggesting a 20% allocation to gold instead [5][6] - Despite Bitcoin's significant year-over-year rally of nearly 80%, the CIO cited its volatility and regulatory uncertainties as reasons for its exclusion from inflation hedging strategies [6] - The bank's shift towards crypto trading indicates a potential change in its investment approach, moving towards embracing digital assets [1][5]

Core Insights - Morgan Stanley is entering the digital asset space by launching crypto trading on its E*Trade platform, expected to go live in the first half of 2026, providing retail investors access to cryptocurrencies [1][7] - The initiative is facilitated through a partnership with Zerohash, allowing trading of Bitcoin, Ethereum, and Solana, with Solana's inclusion reflecting strong institutional interest [2][5] - The move indicates a broader acceptance of digital assets among traditional financial institutions, positioning Morgan Stanley in competition with other brokerages already active in the crypto market [3][5] Industry Trends - The digital asset market has expanded to a valuation of nearly $3.9 trillion, driven by growing retail interest and the entry of established brokerages [5][7] - Regulatory conditions in the U.S. are becoming more favorable for the crypto industry, encouraging financial institutions to develop digital asset services without previous uncertainties [6][7] - The entry of well-known platforms like E*Trade into the crypto market is expected to enhance competition among brokerages, leading to innovative products and improved services for investors [7]

Core Insights - Morgan Stanley is set to launch cryptocurrency trading for E-Trade clients in the first half of 2026, potentially accessing $1.3 trillion in trading volume [1] - The initial offering will focus on Bitcoin, Ether, and Solana, with plans for future expansion [2] - The initiative aims to integrate traditional finance with digital assets, enhancing the bank's competitive position [4] Group 1: Launch Details - The cryptocurrency trading service will begin with spot trading for Bitcoin, Ether, and Solana, marking the first phase of a broader digital asset platform [2][3] - Morgan Stanley is developing a wallet for clients to manage digital assets alongside traditional portfolios, emphasizing the integration of both asset types [3] Group 2: Competitive Landscape - The launch comes as competitors like Charles Schwab explore digital asset offerings, while Robinhood has generated $626 million from crypto trading last year [5] - JPMorgan has partnered with Coinbase to enhance crypto purchases, indicating a growing trend among major banks to enter the digital asset space [5] Group 3: Infrastructure and Partnerships - Morgan Stanley is partnering with Zerohash for liquidity, custody, and settlement, which is crucial for managing large-scale trading and regulatory compliance [1][7] - Zerohash recently raised $104 million in funding, highlighting its significance in the collaboration and its valuation of $1 billion [6]

Core Insights - Morgan Stanley is expanding its digital asset offerings through a partnership with Zerohash, enabling E*Trade clients to trade bitcoin, ether, and solana by the first half of 2026 [1] - The initiative is part of a broader crypto strategy that aims to provide a comprehensive wallet solution in the future [1][2] Group 1: Digital Asset Strategy - The bank's head of wealth management, Jed Finn, emphasized the importance of integrating traditional and digital assets within a single ecosystem [2] - Morgan Stanley is developing an asset-allocation framework that will allow clients to have varying levels of crypto exposure based on their investment goals [3] Group 2: Technological Infrastructure - The underlying blockchain technology is recognized as proven and is expected to remain a significant part of the financial landscape [2] - Morgan Stanley is also investigating tokenization to enhance back-office efficiencies, including settlement and clearing processes [3]

Group 1 - Morgan Stanley will offer cryptocurrency trading on its E*Trade platform starting in the first half of 2026 through a partnership with Zerohash [1] - E*Trade clients will be able to trade bitcoin, ether, and solana at launch [1] - The cryptocurrency market has grown into a market worth approximately $3.9 trillion, with bitcoin and ether accounting for about $2.25 trillion and $506 billion respectively [3] Group 2 - The Trump administration's supportive stance on regulations has contributed to the growth of cryptocurrencies, attracting Wall Street banks and asset managers [2] - E*Trade's competitors, such as Robinhood and Charles Schwab, are also expanding their cryptocurrency offerings [3] - Zerohash has achieved unicorn status after raising $104 million in a funding round led by Interactive Brokers, with participation from Morgan Stanley and others [4]

Group 1 - Eurozone inflation is on a downward trend, increasing the likelihood of the European Central Bank (ECB) cutting interest rates again in 2025, with core inflation expected to fall below 2% due to slowing wage growth and declining commodity prices [1] - Bridgewater Associates warns of high government debt in the US and UK, leading to economic strain and social polarization, with UK productivity stagnating since the mid-2000s [1] - Deutsche Bank strategists predict a continued weak dollar, as investors shift away from US assets amid a new easing cycle from the Federal Reserve and concerns over its independence [2] Group 2 - German manufacturing is facing challenges, with a decline in manufacturing PMI to 48.5 indicating increased contraction, despite a rise in services PMI to 52.5 [2] - Malaysia's fiscal deficit target for 2025 is expected to remain at 3.8%, benefiting from lower Brent crude prices and a stronger ringgit, with inflation expectations adjusted down to 1.5% [2] - The H-1B visa reform in the US may reduce the outflow of Indian talent, benefiting India's economy, but could also lead to decreased remittances from the US, putting downward pressure on the Indian rupee [3]

💥BREAKING:🇺🇸 MORGAN STANLEY WILL OFFER BITCOIN AND CRYPTO TRADING NEXT YEAR. https://t.co/PmwyFZ5FvG ...

Cryptocurrency Adoption - Morgan Stanley 将于明年提供 Bitcoin 和加密货币交易服务 [1]

About this content About Sean Mason Sean Mason is a Senior Journalist at Proactive, having researched and written about Canadian and US equities for 20 years. Sean graduated from the University of Toronto with a BA in history and economics and has also passed the Canadian Securities Course. He previously worked at Investors Digest of Canada, Stockhouse, and SmallCapPower.com. Read more About the publisher Proactive financial news and online broadcast teams provide fast, accessible, informative and action ...