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Morgan Stanley (NYSE:MS) is rolling out cryptocurrency trading on its E*Trade platform charging 50 basis points per transaction, undercutting Coinbase (NASDAQ:COIN), Robinhood (NASDAQ:HOOD), and Charles Schwab (NYSE:SCHW).
The Pricing War Begins
Morgan Stanley’s 50-basis-point fee is about half of Robinhood’s 95 basis points. Coinbase charges 60 basis points, while Schwab announced 75 basis points last month.
The offering is in pilot now, with all of E*Trade’s 8.6 million clients set to gain access later this year. The platform will start with Bitcoin (CRYPTO: BTC), Ether (CRYPTO: ETH), and Solana (CRYPTO: SOL).
“This is much bigger than trading crypto at a cheaper rate,” Jed Finn, Morgan Stanley’s head of wealth management, …
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