Morgan Stanley Makes Crypto Trading Cheaper on E*Trade Platform

One of America's biggest banks is making it easier and cheaper for regular people to buy cryptocurrency like Bitcoin.

Morgan Stanley has started testing crypto trading on its E*Trade platform (a popular app where people buy and sell investments). The bank is charging customers 0.50% per trade (meaning if you buy $100 of Bitcoin, you pay 50 cents in fees).

This is important because: • Lower fees than competitors - Charles Schwab charges 0.75% for crypto trades • 8.6 million people use E*Trade and will get access to crypto trading later this year • Shows big traditional banks are embracing cryptocurrency

The move comes just weeks after Morgan Stanley launched its own Bitcoin ETF (a fund that lets people invest in Bitcoin through the stock market). The bank says customers are increasingly interested in crypto investments.

What this means for beginners: • Basis points = A way to measure fees (50 basis points = 0.50%) • Spot trading = Buying actual cryptocurrency, not derivatives • Disintermediating = Cutting out the middleman to reduce costs

Jed Finn, who runs Morgan Stanley's wealth management division, said this is "much bigger than trading crypto at a cheaper rate." The bank wants to compete with crypto-only platforms by offering better prices and the security of a major financial institution.

While some experts think Bitcoin ETFs (which charge only 0.02% fees) might be more popular, direct crypto ownership lets investors actually hold their digital assets.

This is an AI-generated summary. Read the original article at: https://www.theblock.co/post/400259/morgan-stanley-pilots-crypto-trading-on-etrade-with-50-basis-point-fee-bloomberg?utm_source=rss&utm_medium=rss