Morgan Stanley is transforming its digital asset initiatives from pilot projects into a core, integrated wealth management business line. The bank has appointed Amy Oldenburg as Head of Digital Asset Strategy to lead this formalized, long-term execution. The strategy represents a clear pivot, embedding crypto trading, tokenization infrastructure, and proprietary custody solutions directly into its core platform for advisors and retail clients.
A major milestone is set for the first half of 2026, when spot trading for Bitcoin (BTC), Ethereum (ETH), and Solana (SOL) will be enabled on the E*Trade platform through a partnership with crypto infrastructure firm Zero Hash. This will allow clients direct access to crypto markets within their familiar brokerage environment.
Later in 2026, the bank plans to launch a proprietary self-custody digital wallet designed to hold both cryptocurrencies and tokenized real-world assets like private equity, real estate, and fixed-income products, bridging public and private blockchain assets.
In a move toward product ownership, Morgan Stanley has filed S-1 registration statements for its own branded spot Bitcoin, Solana, and Ethereum ETFs. Notably, the proposed Ethereum ETF structure includes staking rewards, moving beyond passive exposure to yield-generating products. This gives the bank greater fee control and product differentiation within its advisory ecosystem.
To support this expansion, Morgan Stanley is actively recruiting senior blockchain engineers to design and implement its tokenization framework, with job listings indicating compensation up to $165,000. The engineering mandate involves evaluating protocols like Ethereum, Polygon, Hyperledger, and Canton to build scalable, regulation-ready systems.
The bank views tokenization as a fundamental efficiency upgrade for private markets, potentially reducing settlement times from days to minutes and enabling fractional ownership. Morgan Stanley is positioning itself to compete in a tokenized asset market forecast to reach $16 trillion by 2030.
This strategy contrasts with rivals like JPMorgan Chase, which focuses on institutional blockchain infrastructure, and BlackRock's emphasis on tokenizing traditional funds. By targeting retail and advisor integration first, Morgan Stanley is betting that digital asset adoption will flow significantly through wealth management channels, aiming to become a vertically integrated digital wealth platform.
