Morgan Stanley has rolled out spot crypto trading on E*TRADE, instantly giving nearly 9 million retail clients access to Bitcoin, Ethereum, and Solana directly within their existing brokerage accounts. The move launched through infrastructure partner zerohash with a 50 basis point commission structure that undercuts Coinbase and rivals Schwab and Robinhood on effective retail pricing in most account tiers.
The initiative marks a significant escalation in competition between traditional finance and crypto-native platforms. Morgan Stanley plans to eventually migrate digital asset services to its forthcoming Morgan Stanley Digital Trust, a national trust bank that will handle custody, settlement, and fiduciary functions in-house. The crypto offering integrates with broader upgrades to E*TRADE’s active trader platform, including enhanced charting and analytics designed to compete with Robinhood Legend and thinkorswim.
Morgan Stanley’s own research shows established brand trust drives retail crypto adoption, positioning the bank favorably with mass affluent investors wary of standalone exchanges.
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FXnCO Insight
** Traditional brokerages are now price-competitive on crypto, potentially accelerating institutional-grade capital flows away from pure-play exchanges into integrated wealth platforms.
Source: Finance Magnates