Morgan Stanley Seeks OCC Trust Charter for Direct Crypto Custody, ETrade Launch in 2026
Morgan Stanley filed a de novo national trust bank charter with the OCC on February 18 to offer direct cryptocurrency custody to institutional clients, targeting BitGo and Anchorage Digital. The application also covers custody, trading and staking services and a 2026 launch of Bitcoin, Ethereum and Solana trading on ETrade.
1. OCC Charter Application
Morgan Stanley filed a de novo application for a national trust bank charter with the Office of the Comptroller of the Currency on February 18, aiming to offer direct cryptocurrency custody to institutional clients.
2. Institutional Crypto Service Plans
The bank’s filing outlines ambitions to provide custody, trading and staking services within one regulated entity, positioning it as a direct competitor to crypto-native custodians such as BitGo and Anchorage Digital.
3. Retail Expansion via ETrade
Morgan Stanley plans to launch Bitcoin, Ethereum and Solana trading on its ETrade platform in the first half of 2026, representing a direct challenge to retail-focused exchanges.
4. Regulatory and Competitive Environment
The trust bank bid reflects a broader shift by legacy financial institutions toward digital assets, driven by clearer federal guidelines and intensifying competition in crypto infrastructure development.