Morgan Stanley pilots crypto trading on E*Trade with 50-basis-point fee: Bloomberg

Morgan Stanley has launched a pilot program for spot cryptocurrency trading on its E*Trade retail brokerage platform, marking an expansion of its digital asset services for retail clients. The bank is implementing a 50-basis-point fee on the dollar value of each crypto transaction. This initiative is part of a larger strategy by Morgan Stanley to offer digital asset products more broadly. The move comes after Morgan Stanley previously recommended capping crypto allocations at 4% for aggressive portfolios and launched a low-cost spot Bitcoin ETF (MSBT) which has seen significant inflows. The bank also plans to allow clients to convert cryptocurrency into exchange-traded products and trade tokenized equities on the institutional side. This 50-basis-point fee is competitive, undercutting Charles Schwab's 75-basis-point fee.

(Source：The Block)