Morgan Stanley Launches E*Trade Crypto Trading at 0.50% Fee for 8.6M Users
Morgan Stanley has launched a pilot crypto trading service on ETrade charging 50 basis points per trade, undercutting Coinbase at 60 bps, Schwab at 75 bps and Robinhood at 95 bps. The pilot will reach all 8.6 million ETrade clients later this year and complements Morgan Stanley’s new Bitcoin ETF.
1. Pilot Launch on E*Trade
Morgan Stanley has begun a pilot phase offering spot trading of Bitcoin, Ether and Solana on its E*Trade platform at 0.50% per transaction. The service will roll out to the platform’s entire base of 8.6 million retail clients by year-end.
2. Competitive Fee Positioning
At 50 basis points per trade, Morgan Stanley’s rate undercuts Coinbase’s 60 bps, Charles Schwab’s 75 bps and Robinhood’s 95 bps entry-level fee. This pricing strategy aims to shift cost-sensitive retail investors from incumbent and crypto-native platforms.
3. Alignment with Digital Assets Strategy
The E*Trade offering dovetails with Morgan Stanley’s recent launch of a Bitcoin ETF and plans for Ether and Solana ETFs. The bank is also pursuing a national trust charter to custody digital assets and developing tokenized equity trading services for institutional clients.
4. Potential Impact on Wealth Management
By integrating crypto trading into its existing brokerage environment, Morgan Stanley may boost wealth management revenue beyond the record $8.52 billion posted in Q1 2026. Cheaper access and convenience could drive higher transaction volumes among retail clients.