Written by Zoltan Vardai, Staff Writer. Reviewed by Bryan O’Shea, Staff Editor.
Written by Zoltan Vardai, Staff Writer.
Reviewed by Bryan O’Shea, Staff Editor.
Morgan Stanley takes on crypto trading rivals with E*Trade pilot
Latest NewsPublishedMay 6, 2026
The Wall Street bank is charging 50 basis points per crypto trade, below basic retail pricing at Coinbase, Robinhood and Charles Schwab.
Morgan Stanley has rolled out a cryptocurrency trading pilot on its E*Trade platform, charging lower basic retail fees than some of the largest US crypto and brokerage platforms.
The Wall Street bank is charging clients 50 basis points on the dollar value of each crypto transaction, undercutting Coinbase, Robinhood and Charles Schwab on standard retail pricing, as reported by a Tuesday Bloomberg report.
The offering is currently in pilot mode, with E*Trade’s 8.6 million clients expected to gain access later this year, Bloomberg reported.
The pilot illustrates how major Wall Street firms are moving further into crypto trading as they compete with exchanges and fintech platforms for retail trading revenue. Still, Kraken Pro, Binance US and some Coinbase Advanced tiers offer lower fees for crypto traders.
A spokesperson for Morgan Stanley verified to Cointelegraph that the details and fee structure described in the Bloomberg report were accurate.
The latest crypto push by the bank comes about a month after Morgan Stanley introduced a spot Bitcoin ETF (MSBT) that recorded $30.6 million in inflows on its first day of NYSE Arca trading.
Related: Crypto VC funding plunges to $659M in April, hits near two-year low
Wall Street giants venture into crypto trading
Morgan Stanley is not the only major financial institution expanding its crypto products for retail or institutional clients.
Charles Schwab, one of the largest US brokerage firms, revealed the launch of spot Bitcoin and Ether trading for retail clients less than a month ago, Cointelegraph reported on April 16. The offering introduced with a 75 basis points per transaction fee.
Goldman Sachs also filed with the US Securities and Exchange Commission in April to launch the Goldman Sachs Bitcoin Premium Income ETF, a proposed fund that would generate income by selling call options on Bitcoin exchange-traded products rather than investing directly in Bitcoin.
Earlier Wall Street crypto infrastructure efforts include BNY Mellon’s digital asset custody platform, which went live in the United States in October 2022 and allowed select clients to hold and transfer Bitcoin and Ether.
Magazine: Bitcoiners eye ‘sell in May,’ SBF’s bid for new trial shut down: Hodler’s Digest, April 26 – May 2
Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently.
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