Morgan Stanley to launch spot crypto trading on E*Trade platform

Morgan Stanley is launching spot crypto trading on its E*Trade wealth management platform. The Wall Street bank acquired E*Trade in 2020 for about $13bn, helping to jump-start its wealth management business.

Morgan Stanley said that it planned to roll out the offering to the platform’s 8mn customers after a pilot programme, charging half a cent on each dollar of crypto traded. The pricing undercuts rivals such as Charles Schwab, and makes Morgan Stanley one of the few large banks to offer spot crypto trading.

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Victoria – FT social team