What to know:
- Morgan Stanley is launching crypto trading on E*Trade, charging 50 basis points in a pilot that undercuts rivals like Coinbase, Robinhood, and Charles Schwab.
- The service, set to roll out to all 8.6 million E*TRADE users later this year, is part of a broader push that includes Bitcoin ETF exposure and planned Ether and Solana products.
- The bank is also exploring deeper crypto integration such as custody services, crypto-to-ETF conversions, and potential tokenized equity trading to challenge existing market leaders.
Morgan Stanley is now allowing customers to trade cryptocurrencies through its E*Trade platform. This new service aims to provide a more affordable way for individuals to buy and sell crypto compared to other popular options.
Bloomberg reports that the bank is testing a new fee for E*Trade customers: 50 basis points per transaction. This is cheaper than competitors like Coinbase, Robinhood, and Charles Schwab, who charge between 60 and 95 basis points.
Jed Finn, who leads wealth management at Morgan Stanley, explained that this new effort isn’t just about lowering crypto trading costs. It’s about cutting out the middlemen who currently connect clients with digital assets, representing a significant change in how those assets are accessed.
The company intends to offer this service to all 8.6 million of its ETrade customers by the end of the year.
Morgan Stanley is continuing to expand its presence in the cryptocurrency space. Following the launch of a Bitcoin ETF and plans for similar products based on ether and solana, the company is also working on the infrastructure needed to directly hold digital assets for its clients, having applied for a special bank charter to do so.
Bloomberg reports the bank is considering new services that would let customers use their cryptocurrency to invest in exchange-traded products without having to sell it. They are also getting ready to potentially offer trading in tokenized stocks later this year.
These changes are expected to increase competition in the market. In 2025, Coinbase earned $3.32 billion from customer transactions, and Robinhood made almost $1 billion from cryptocurrency services.
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2026-05-06 15:37