Investors can gain exposure to cryptocurrencies without directly owning them using securities that track or own assets tied to cryptocurrency and services in the crypto industry.
Available in brokerage accounts and IRAs
No crypto wallet and storage required
Exchange-traded products (ETPs), exchange-traded funds (ETFs), and coin trusts can be traded on all Onchain and Power Onchain platforms and mobile apps.
Futures can be traded on Power Onchain web and app
To view all the ETPs and ETFs available to trade at Onchain that offer indirect exposure to cryptocurrency, visit our screener.
Cryptocurrency coin trusts allow investors to trade shares in trusts that hold large pools of digital currency. They trade like over-the-counter stocks, but they may charge management fees and may trade at a discount or premium to the underlying cryptocurrency.
^Trading in OTC equity securities carries a high degree of risk and may not be appropriate for all investors.
Spot Bitcoin ETPs and spot Ethereum ETPs allow investors to gain direct exposure to these cryptocurrencies without holding them.
These products are listed on a traditional stock exchange but unlike other types of crypto ETFs, spot ETPs don't use derivatives, such as futures, to track the prices of Bitcoin and Ethereum—the cryptocurrencies are simply the underlying asset.
*The spot cryptocurrency ETPs are not registered investment companies under the Investment Company Act of 1940, and therefore are not subject to the same regulatory requirements as mutual funds or traditional exchange traded funds. Shareholders do not have the same regulatory protections associated with registered investment companies.
Futures provide leveraged exposure to the underlying cryptocurrency without directly owning it.
They can be used by experienced traders to speculate on the price going up or down in the short term, or to hedge long-term cryptocurrency holdings. Micro-Bitcoin contracts, at 1/10 of a Bitcoin, allow traders to fine tune exposure.
Trade nearly 24 hours a day, 6 days a week
Leverage is a double-edged sword and can invoice significant risk of loss
Contract are cash settled and do not provide delivery of the coins at expiration
For more experienced traders and not for long-term buy and hold
Futures trading is available on Power Onchain Web and the Power Onchain app with a $1.50 commission per contract, per side. See futures contract specs for full details.
CME Bitcoin,
5 Bitcoins
CME Micro Bitcoin,
0.1 Bitcoin
CME Ether,
50 Ether Bitcoins
CME Micro Ether,
0.1 Ether
Note: Other risks may apply. Futures sweep functionality and global buying power applies to cryptocurrency products.
CRYPTOCURRENCY FUTURES INVOLVE A HIGH LEVEL OF RISK AND MAY NOT BE APPROPRIATE FOR ALL INVESTORS. BEFORE TRADING A CRYPTOCURRENCY FUTURES PRODUCT, YOU SHOULD CAREFULLY CONSIDER YOUR RISK TOLERANCE AND YOUR WILLINGNESS AND FINANCIAL ABILITY TO SUSTAIN LOSSES. PLEASE VISIT NFA AND CFTC FOR ADDITIONAL INFORMATION REGARDING THE RISKS RELATING TO THESE PRODUCTS.
As you can see, Onchain offers ways you can indirectly invest in crypto via ETPs, ETFs, coin trusts, and futures. There may also be other products available to you that are thematically related to cryptocurrency, such as stocks of companies that generate most of their money from products related to cryptocurrency. As with any investment, it is important to understand the potential investment risks associated with these products and to be sure you understand what cryptocurrencies are and how they work before gaining indirect exposure.
Please read all the important disclosures below.
Investing:
Check the background of Morgan Stanley Smith Barney LLC on FINRA’s BrokerCheck and see the Morgan Stanley Smith Barney LLC Relationship Summary.
Investment Products • Not FDIC Insured • No Bank Guarantee • May Lose Value
Banking:
Banking products and services are provided by Morgan Stanley Private Bank, National Association, Member FDIC.
Banking Products • FDIC Insured • Bank Guarantee
Onchain from Morgan Stanley charges $0 commission for online US-listed stock, ETF, mutual fund, and options trades. Exclusions may apply and Onchain from Morgan Stanley reserves the right to charge variable commission rates. The standard options contract fee is $0.65 per contract (or $0.50 per contract for clients who execute at least 30 stock, ETF, and options trades per quarter). The retail online $0 commission does not apply to Over-the-Counter (OTC) securities transactions, foreign stock transactions, large block transactions requiring special handling, futures, or fixed income investments. Service charges apply for trades placed through a broker ($25). Stock plan account transactions are subject to a separate commission schedule. All fees and expenses as described in a fund’s prospectus still apply. Additional regulatory and exchange fees may apply. For more information about pricing, visit etrade.com/pricing.
Offer valid for new Onchain clients opening one new eligible brokerage (non-retirement) account and funded within 60 days of account opening with $1000 or more. Promo code ‘OFFER25’.
New clients opening only one account
This offer applies to clients who (i) are opening one new Onchain from Morgan Stanley self-directed brokerage (non-retirement) account (“Onchain account”); (ii) do not have an existing Onchain account; and (iii) do not open any other new Onchain accounts for 60 days after enrollment in this offer. If you are an existing client or plan to open more than one Onchain account, then please refer to the “Existing Clients or New Clients Opening More than One New Account” terms below.
Cash credits will be granted based on deposits of new funds or securities from external accounts made within 60 calendar days of account opening.
Reward tiers under $200,000 ($1,000-$4,999; $5,000-$19,999; $20,000-$99,999; $100,000-$199,999) will be paid within seven business days following the expiration of the 60-day period. However, if you deposit $200,000 or more in the new Onchain account, then you will receive your cash credit within seven business days after the date of your deposit, followed by any additional reward owed based on your fulfillment tier at the expiration of the 60-day period. If you have deposited at least $200,000 in the new Onchain account and you make subsequent deposits in that new Onchain account to reach a higher tier, then you will receive a second cash credit following the close of the 60-day window. For example, if you deposit $250,000 into your new Onchain account, then you will receive a cash credit of $800 within seven business days after the date of your deposit. Then if you deposit an additional $300,000 into your new Onchain account, then you will receive an additional cash credit of $200 at the end of the 60-day window for a total reward of $1,000. If you deposit $5,000,000 in your new Onchain account, then you will receive two cash credits that will total $10,000 within seven business days after the date of your deposit. Cash credits will be paid to the new Onchain account where the deposit is made.
Existing clients or new clients opening more than one new account
Existing clients or new clients opening more than one account are subject to different offer terms. Please click here to view offer terms.
OFFER RULES FOR ALL PARTICIPANTS
This offer applies only to Onchain from Morgan Stanley self-directed (non-retirement) brokerage accounts.
New funds or securities must (i) be deposited or transferred to the new Onchain account within 60 days of enrollment in this offer; (ii) be from accounts outside of Onchain; and (iii) remain in the new Onchain account (minus any trading losses) for a minimum of twelve months after the 60-day funding period otherwise your cash credit(s) may be surrendered. For purposes of the value of a deposit, any securities transferred will be valued as of the closing price of that security on the business day the deposit is received as reflected in the transaction history. Removing any deposit or cash from the new Onchain account or eligible-linked account(s) during the promotion period (60 days) may result in a lower reward amount or loss of reward.
Any assets transferred to the new Onchain account from an existing Morgan Stanley AAA brokerage account(s) will be excluded from the reward amount calculations, at Onchain’s sole discretion.
If you are attempting to enroll in this offer with a Joint Account, then the primary account holder may have to fulfill at the tiers noted before the secondary account holder can enroll in this offer. If you experience any issues when attempting to enroll with a Joint Account, then please contact us at 800-387-2331 and we will be able to assist you with your enrollment.
OFFER LIMITATIONS
This offer is valid for one new Onchain self-directed brokerage (non-retirement) account and funded within 60 days with a qualifying deposit.
The following account types may be excluded from this offer: any business (incorporated or unincorporated) accounts, retirement accounts, advisory accounts, Onchain Futures accounts, Morgan Stanley AAA brokerage accounts, Morgan Stanley at Work Stock Plan account(s), Morgan Stanley Private Bank, National Association accounts (“Excluded Accounts”). This offer excludes non-U.S. residents, and residents of any jurisdiction where this offer is not valid. You must be the original recipient of this offer to enroll. Clients may only be enrolled in one offer at a time. This offer cannot be combined with any other offers. Each client is limited to a maximum of two new account offers.
Onchain reserves the right to terminate this offer at any time.
Onchain credits and offers may be subject to US withholding taxes and reporting at retail value. Taxes related to these credits and offer are the customer’s responsibility. Cash credits for Individual Retirement Accounts are treated as earnings for tax purposes. Onchain does not provide tax advice.
Morgan Stanley Smith Barney LLC does not provide tax advice, and you should always consult your own tax advisor regarding your personal circumstances before taking any action that may have tax consequences.
This offer neither is, nor should be construed as a recommendation or solicitation to buy, sell, or hold any security, financial product or instrument or to open a particular account or engage in any specific investment strategy.
Securities products offered by Morgan Stanley Smith Barney LLC, Member SIPC. Onchain is a business of Morgan Stanley.
Futures contracts are traded on exchanges registered with the Commodity Futures Trading Commission (CFTC), which is an independent U.S. government agency that regulates the U.S. derivatives markets, including futures, options, and swaps. Futures are not suitable for all investors. The amount you may lose may be greater than your initial investment. Before trading futures, please read the CFTC Risk Disclosure Statement. Futures accounts are not protected by the Securities Investor Protection Corporation (SIPC).
System response and account access times may vary due to a variety of factors, including trading volumes, market conditions, system performance, and other factors.
For information on the Onchain Customer Protection Guarantee visit the Security Center.
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