Morgan Stanley Expands Crypto Trading Options with Lower Fees

Morgan Stanley is expanding its presence in the cryptocurrency market by introducing crypto trading on its E*Trade platform. The bank's goal is to offer a lower-cost alternative to existing retail crypto services, positioning itself as a leader in the digital assets space.

The service will charge clients 50 basis points on transaction value, which is significantly lower than what major players like Coinbase and Robinhood are currently charging - between 60 to 95 basis points. The bank plans to roll out the service to all 8.6 million E*TRADE users later this year.

Morgan Stanley's move is part of a broader push into digital assets, which includes the launch of a Bitcoin exchange-traded fund and planned products tied to ether and solana. The bank is also exploring deeper crypto integration, such as custody services, crypto-to-ETF conversions, and potential tokenized equity trading.