Morgan Stanley has made a significant move by launching direct cryptocurrency trading on its E*TRADE platform for eligible U.S. clients on July 16. This new feature allows clients to trade popular digital assets, including Bitcoin, Ethereum, and Solana, through linked Zero Hash accounts.
The integration of cryptocurrency trading within the E*TRADE platform is noteworthy as it places these digital assets alongside traditional investments such as stocks. This launch follows a pilot program that began in May, which tested the service with a select group of users before expanding access to the broader client base.
Details on Trading and Fees
Eligible clients can now buy, sell, and hold the three cryptocurrencies mentioned. With E*TRADE's interface, users can view their digital asset holdings next to their stock investments, allowing for a more comprehensive view of their portfolio. However, it's important to note that eligibility restrictions apply, and only U.S.-based clients can open linked crypto accounts.
The service is part of a broader upgrade to the E*TRADE platform, which also introduced features like fractional-share trading and enhanced retirement planning tools. As for fees, E*TRADE charges a commission of 0.50% on the notional value of each trade, without any separate spread fees or markups, providing transparency in transaction costs.
Custody and transaction services are managed by Zero Hash LLC, which handles the digital assets outside of the brokerage entity. Clients should be aware that their holdings are not insured by the Federal Deposit Insurance Corporation or the Securities Investor Protection Corporation.
This material is informational and does not constitute financial advice.
