Morgan Stanley is rolling out cryptocurrency trading on its E*Trade platform, charging clients just 50 basis points per transaction. The move undercuts rivals like Coinbase, Robinhood, and Charles Schwab, each demanding higher fees. The pilot now serves 8.6 million E*Trade users, with full access slated for later this year in the quarter of 2025 as they scale.

By slashing fees, the bank signals a broader strategy to blend traditional finance with decentralized finance. Executives say the aim is to disintermediate the disintermediators, offering spot trading for Bitcoin, Ether, and Solana through a partnership with Zerohash. The launch follows a $13 billion purchase of E*Trade in 2020 that pushed Morgan Stanley into retail segment.

Price cuts position Morgan Stanley against Coinbase, whose fees start at 60 basis points, and Charles Schwab, which charges 75 basis points. The bank’s new crypto ETF lineup, now the cheapest in the category, signals its intent to seize a share of the expanding digital‑asset market once off‑limits to Wall Street in the global scene.

With the launch, Morgan Stanley becomes the first Wall Street bank to offer a Bitcoin ETF and the cheapest option in its class. It also plans tokenized equity trading for institutions later this year. The bank’s aggressive entry reflects a shift toward integrating crypto into mainstream wealth management, potentially reshaping fee structures across the industry.