Morgan Stanley Plans Bitcoin Trading and Custody

Morgan Stanley Bitcoin trading is on the horizon as the Wall Street giant unveiled plans to build a native cryptocurrency custody and exchange platform. Amy Oldenburg, Head of Digital Asset Strategy at Morgan Stanley, disclosed the initiative during a conversation with Phong Le, President and CEO of Strategy, at the Strategy World event on February 25. The bank will first enable E-Trade clients to buy and sell spot cryptocurrencies through an external partnership before launching its own integrated solution within the next 12 months.

E-Trade Crypto Integration Comes First

Before deploying its proprietary platform, Morgan Stanley will partner with an external provider to give E-Trade users access to spot crypto trading. The bank disclosed last year that it was pursuing a spot Bitcoin ETF and planning direct trading for brokerage clients. Oldenburg described the phased rollout as deliberate, stressing that the firm's brand demands flawless execution.

This is a natural progression. We can't just primarily rent the technology to do this. People expect Morgan Stanley -- they trust our brand -- to be no fail.

— Amy Oldenburg, Head of Digital Asset Strategy at Morgan Stanley

What Will Morgan Stanley's Crypto Custody Platform Offer?

Morgan Stanley's planned custody solution will grant clients legal ownership of their digital assets under the bank's direct supervision, according to Oldenburg. The platform is designed to bundle custody, trading, and eventually yield or lending services into one integrated offering. Some clients will still prefer self-custody -- particularly Bitcoin holders -- but the firm aims to serve those seeking institutional-grade safeguards.

Oldenburg highlighted her 26 years at Morgan Stanley, including 13 years running the emerging-market investing division, as central to shaping the strategy. She noted early Bitcoin adoption in 17 of the top 20 markets worldwide, underscoring the global demand that traditional institutions can no longer ignore.

Yield, Lending, and DeFi on the Roadmap

Beyond custody and trading, Morgan Stanley is evaluating yield and lending products that would let clients earn returns on crypto holdings. Oldenburg called it a natural extension of the roadmap and confirmed her team is tracking momentum in decentralized finance lending, though the offerings remain in early stages. No launch date was announced; the firm said yield and lending services will follow the custody and exchange rollout.

What This Means Going Forward

Morgan Stanley manages roughly $8 trillion in assets on its platform, and Oldenburg acknowledged that a meaningful share of those clients currently hold cryptocurrency through external accounts. Migrating even a fraction of those off-platform holdings could generate substantial new revenue in custody fees, trading commissions, and lending income.

As institutionalization of the crypto market accelerates, Morgan Stanley's move into custody and exchange services signals confidence among traditional finance giants. At the time of writing, Bitcoin is up 8% on the day and trading near $69,000, with related equities and digital assets also posting gains.