Morgan Stanley Unveils Cryptocurrency Trading Pilot at Record-Low Fees

Morgan Stanley has taken the lead in the cryptocurrency market by launching a pilot program on its E*Trade platform that allows users to trade Bitcoin, Ether, and Solana at 50 basis points per trade. This move undercuts major retail rivals, including Schwab and Coinbase, which charge higher fees for similar services.

The pilot program uses Zerohash as the liquidity provider, custodian, and settlement agent, allowing users to trade cryptocurrencies directly within their E*Trade brokerage accounts. According to Morgan Stanley's head of wealth management, Jed Finn, this move is not just about offering cheaper cryptocurrency trading but also a strategic effort to keep its 8.6 million clients within its own ecosystem.