Morgan Stanley has officially launched cryptocurrency trading on its E*Trade platform, allowing U.S. clients to trade spot bitcoin, ether, and solana as of July 16. The bank is offering a competitive 50-basis-point fee per transaction, significantly lower than the fees charged by competitors such as Coinbase and Robinhood, which can go up to 95 basis points.
Clients can now conduct trades 24/7 through E*Trade's interface, which integrates digital asset trading alongside traditional stocks and exchange-traded funds (ETFs). This rollout provides direct exposure to these cryptocurrencies, rather than through investment funds or futures products. Matt Jones, E*Trade's Head, noted the evolution of client needs, emphasizing their desire for an all-in-one solution for investing, trading, and banking.
Zerohash, a business-to-business crypto infrastructure firm, is providing the necessary backend services for liquidity, custody, and settlement, linking digital asset holdings directly to clients' brokerage accounts. Plans are in place to enable crypto transfers onto and off the platform later in 2026.
The pricing strategy aims to attract retail investors, given that Morgan Stanley's fees translate to $5 for every $1,000 traded, a tactic designed to draw customers from incumbent platforms. This rollout follows a pilot program that was initiated earlier in the year and concludes a timeline set out by the bank to launch in the first half of 2026. Chad Turner, who oversees Morgan Stanley Wealth Management Platforms, stated that the launch marks an advancement in their digital assets strategy, providing clients with integrated capabilities.
Morgan Stanley's push into digital assets is part of a broader strategy that includes applications for spot bitcoin and solana ETFs and a national trust charter application focused on digital asset custody. The launch coincides with a period of slight downturn in cryptocurrency prices, with bitcoin trading around $63,000 as of July 17, reflecting recent market trends.
This material is for informational purposes only and is not financial advice.
