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Wall Street Giant Morgan Stanley Enters Crypto Race With Pricing Edge: Report
TL;DR
Morgan Stanley is set to launch cryptocurrency trading on its E*Trade platform, aiming to offer lower transaction costs than competitors. The service will charge 50 basis points per transaction and is expected to be available to all E*Trade clients later this year.
Key points
- Morgan Stanley introduces crypto trading on E*Trade
- Charges 50 basis points per transaction
- Service expected for all E*Trade clients later this year
- Will offer Bitcoin, Ether, and Solana
- Aims to compete on lower costs
Mentioned in this story
Morgan StanleyE*TradeCoinbaseRobinhoodCharles SchwabZerohash
Ether
One of the world’s largest wealth management firms, Morgan Stanley, is all set to introduce cryptocurrency trading on its E*Trade platform, which it acquired for $13 billion six years ago.
It aims to compete on lower costs.
Morgan Stanley Joins Crypto Trading Space
The bank plans to charge 50 basis points per transaction based on dollar value, as it positions itself below rivals such as Coinbase and Robinhood. The rate is also below the 75 basis points charged by Charles Schwab, which rolled out spot Bitcoin and Ethereum trading earlier in April.
Morgan Stanley’s latest service is currently in a pilot phase and is expected to be rolled out to all 8.6 million E*Trade clients later this year, according to the latest report by Bloomberg. At launch, clients will be able to trade Bitcoin, Ether, and Solana. The banking giant had previously tapped Zerohash, an infrastructure provider for digital assets, for the initiative back in September 2025.
The latest development comes almost a month after Morgan Stanley’s much-anticipated spot Bitcoin ETF, under the ticker MSBT, went live on NYSE Arca. The fund debuted with a 0.14% fee, lower than competing products. Data compiled by SoSoValue revealed that MSBT’s cumulative net inflow stood at over $181 million as of May 5th.
Stablecoin Reserve Fund
More recently, Morgan Stanley launched the Stablecoin Reserves Portfolio (MSNXX) in New York to target stablecoin issuers seeking compliant reserve solutions. The fund is part of its Institutional Liquidity Funds Trust and is structured as a government money market fund in line with reserve standards set by the GENIUS Act.
It is designed to help issuers manage assets backing their tokens while maintaining liquidity and capital stability. The main objective of the portfolio is to keep a $1 net asset value and generate income by investing only in cash, US Treasury bills, notes, and overnight repurchase agreements.
Co-Head of Global Liquidity Fred McMullen had said that the offering responds to growing demand as stablecoin issuance expands. Meanwhile, Amy Oldenburg had added that the initiative supports efforts to modernize financial infrastructure and improve institutional access to digital asset markets.
Q&A
What cryptocurrencies will Morgan Stanley offer for trading?
Morgan Stanley will allow trading of Bitcoin, Ether, and Solana on its E*Trade platform.
How much will Morgan Stanley charge for cryptocurrency transactions?
Morgan Stanley plans to charge 50 basis points per transaction, which is lower than many competitors.
When will Morgan Stanley's cryptocurrency trading be available to clients?
The cryptocurrency trading service is expected to be rolled out to all 8.6 million E*Trade clients later this year.
