Morgan Stanley has taken another step into the cryptocurrency world, beginning cryptocurrency trading on its E-Trade platform, which is scheduled to be released in 2025.
According to Bloomberg, Wall Street giant Morgan Stanley has launched cryptocurrency trading services through its online brokerage subsidiary, E-Trade.
The platform will charge a fee of approximately 0.5% per transaction. This rate is lower than those offered by competitors such as Coinbase, Robinhood, and Charles Schwab.
The service is currently in pilot phase and is expected to be available to all 8.6 million E-Trade customers by the end of the year.
Jed Finn, Head of Asset Management at Morgan Stanley, said, “The launch of this service should be seen as much more than just trading cryptocurrencies with lower fees. In a sense, it’s a strategy to disable those who are trying to eliminate intermediaries.”
In addition to Bitcoin and Ethereum (ETH), Solana (SOL) is also expected to be added to the platform in the near future.
This move is seen as part of Morgan Stanley’s strategy to expand its cryptocurrency-related services and attract clients who previously used other platforms to its own financial ecosystem.
*This is not investment advice.
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