Morgan Stanley takes on crypto trading rivals with E*Trade pilot

Morgan Stanley has introduced a cryptocurrency trading pilot on its E*Trade platform, charging 50 basis points per transaction. This fee structure is designed to undercut standard retail pricing at major competitors such as Coinbase, Robinhood, and Charles Schwab. Currently in a pilot phase, the service is expected to be available to all of E*Trade’s 8.6 million clients later this year.

This strategic move reflects the growing ambition of Wall Street financial institutions to compete directly with dedicated crypto exchanges for retail market share. The initiative follows the firm’s successful launch of a spot Bitcoin ETF and occurs amidst a broader trend of major banks, including Charles Schwab and Goldman Sachs, expanding their digital asset offerings to both retail and institutional clients.

(Source：Cointelegraph)