Morgan Stanley Launches Crypto Trading via E*Trade

Morgan Stanley (MS) has launched cryptocurrency trading for eligible E*Trade customers, partnering with crypto infrastructure firm zerohash. The move marks Wall Street's continued push into digital assets.

The Product

Eligible customers can buy and sell crypto assets through a linked account at zerohash, integrating digital asset trading into their existing brokerage account. The service aims to provide a seamless and secure experience for investors seeking portfolio diversification.

Pricing and Availability

The service charges a fee of 0.5% of assets traded. Morgan Stanley has not yet disclosed the list of supported cryptocurrencies or the exact launch date, but confirmed the service will roll out gradually to eligible clients.

Competition

This launch comes as traditional brokerages race to offer crypto trading. Competitors like Fidelity and Charles Schwab have launched similar services, while platforms like Coinbase and Robinhood continue to lead the market.

Potential Impact on the Company

The launch of crypto trading via E*Trade is a strategic move for Morgan Stanley to strengthen its position in digital assets and attract a new segment of investors. It could boost fee income and customer loyalty, but also carries regulatory and market volatility risks.