Morgan Stanley's E*Trade pilots cryptocurrency trading services with lower fees than major competitors

According to Bloomberg, Morgan Stanley is piloting cryptocurrency trading services on its E*Trade platform, charging a fee of 50 basis points on each crypto transaction based on the transaction amount, which is lower than major competitors like Coinbase, Robinhood, and Charles Schwab.

Approximately 8.6 million E*Trade customers are expected to have access to this feature by the end of the year. The report noted that Morgan Stanley has been continuously expanding in the crypto space over the past year, having launched the lowest-fee Bitcoin ETF, plans to launch Ether and Solana ETFs, and applied for a national trust bank license to provide digital asset custody, with future support for institutional clients trading tokenized stocks.