Story perspectives

Morgan Stanley Invests $104M to Boost Retail Crypto Trading

9/23/2025

Summary

Story summary

Zerohash secures $104 million in Series D at a $1 billion valuation, with Morgan Stanley as a key investor.
The funding will back Morgan Stanley's plan for E*Trade users to trade Bitcoin, Ethereum, and Solana.
Jed Finn notes blockchain infrastructure should coexist with traditional assets.
Analysts see Morgan Stanley's move as positioning it as a retail crypto leader against Robinhood.

History

Historical Context

In 2018, the U.S. Securities and Exchange Commission approved the first Bitcoin exchange-traded fund (ETF), a significant milestone for cryptocurrency. This decision reflected a growing acceptance of digital assets by traditional financial institutions, exemplified by Morgan Stanley's substantial investments in blockchain technology, positioning it to compete with platforms like Robinhood that have popularized cryptocurrency trading among retail investors.

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Story summary

Zerohash secures $104 million in Series D at a $1 billion valuation, with Morgan Stanley as a key investor.
The funding will back Morgan Stanley's plan for E*Trade users to trade Bitcoin, Ethereum, and Solana.
Jed Finn notes blockchain infrastructure should coexist with traditional assets.
Analysts see Morgan Stanley's move as positioning it as a retail crypto leader against Robinhood.

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