Morgan Stanley’s E*Trade pilot charges 50 bps per crypto trade
Morgan Stanley is testing crypto trading on E*Trade, charging 50 basis points (0.5%) per trade in a pilot for select clients with wider access planned later this year.
Morgan Stanley has launched a cryptocurrency trading pilot on its E*Trade platform that charges 50 basis points per transaction, equal to 0.5% of the dollar value of each trade. The pilot is limited to select E*Trade clients and a Morgan Stanley spokesperson confirmed the fee structure and basic details.
The firm expects to make the service available to E*Trade’s roughly 8.6 million client accounts later this year. The pilot allows retail customers to trade cryptocurrencies through the E*Trade brokerage alongside existing stock and ETF services.
The 50 basis-point fee is lower than a recently introduced 75-basis-point retail fee at another large U.S. broker for spot Bitcoin and Ether trading. Specialized crypto venues and advanced trading tiers, including Kraken Pro, Binance US and Coinbase Advanced, continue to offer lower fees for active or high-volume traders.
Morgan Stanley launched a spot Bitcoin exchange-traded fund last month; that ETF reported $30.6 million in inflows on its first day of trading. Other industry activity includes a filing by Goldman Sachs for a proposed Bitcoin income ETF and the 2022 launch of a U.S. digital asset custody platform by BNY Mellon.
Morgan Stanley has not disclosed which tokens will be available through the pilot, how custody will be handled for retail clients, or whether institutional trading features will be included in the initial offering. Trade execution pricing and client access remain key variables as the pilot proceeds.
A Morgan Stanley spokesperson confirmed the fee level and the pilot’s basic scope but declined to provide further operational details.
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