• Key insight: Morgan Stanley’s application for a national trust charter for a proposed subsidiary is in support of the investment bank’s bid to partner with Zerohash to let E*Trade clients trade popular crypto coins. 
• What’s at stake: The application comes amid persistent bank concern about a slew of national trust charter applications from fintechs and crypto companies, who banks fear will compete with them for banking activities without similar oversight. 
• Forward look: The Office of the Comptroller of the Currency has approved several national trust charter applications in recent months. 

WASHINGTON — Morgan Stanley has applied to create a national trust bank focused on crypto, according to a document released Friday by the Office…