One of the world’s biggest wealth management firms, Morgan Stanley, is preparing to launch cryptocurrency trading on its E*Trade platform, six years after acquiring the brokerage business for $13 billion.
The bank plans to attract users with lower trading fees as competition in the crypto market heats up.
Morgan Stanley Expands Into Crypto Trading
Morgan Stanley plans to charge a 0.50% fee per crypto transaction, undercutting rivals such as Coinbase and Robinhood. The pricing is also lower than the 0.75% fee charged by Charles Schwab, which launched spot Bitcoin and Ethereum trading in April.
According to a recent Bloomberg report, the service is currently being tested and is expected to roll out to all 8.6 million E*Trade users later this year. At launch, customers will be able to trade Bitcoin, Ether, and Solana.
Morgan Stanley had partnered with Zerohash for the project back in September 2025.
The move comes weeks after the bank launched its spot Bitcoin ETF, MSBT, on NYSE Arca. The fund debuted with a low 0.14% fee, making it cheaper than many competing products. Data from SoSoValue showed that MSBT had attracted more than $181 million in net inflows as of May 5.
Stablecoin Reserve Fund Launch
Morgan Stanley recently also introduced the Stablecoin Reserves Portfolio (MSNXX) in New York. The fund is aimed at stablecoin issuers looking for compliant reserve management solutions.
The portfolio is structured as a government money market fund and follows reserve standards outlined under the GENIUS Act. It is designed to help issuers manage assets backing their digital tokens while maintaining liquidity and stability.
The fund focuses on preserving a stable $1 net asset value and generating income through investments in cash, U.S. Treasury bills, Treasury notes, and overnight repurchase agreements.
Fred McMullen, Co-Head of Global Liquidity, said the new offering addresses growing demand as stablecoin adoption continues to expand. Amy Oldenburg added that the initiative is part of broader efforts to modernize financial infrastructure and improve institutional access to digital asset markets.
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