BlockBeats news, on May 6, Bloomberg reported that Morgan Stanley is launching cryptocurrency trading services on its E*Trade platform, charging a fee of 50 basis points per trade based on the transaction amount—lower than major competitors such as Coinbase, Robinhood, and Charles Schwab. The service is currently in a pilot phase, and E*Trade’s 8.6 million customers will gain access later this year.
Morgan Stanley stated that this move is part of its strategy to expand its market share in crypto assets. The company is betting on the gradual convergence of traditional finance and DeFi, and is expanding its offerings around crypto assets to attract users who previously had to go to other platforms.