Morgan Stanley's E*Trade is piloting a cryptocurrency trading service with lower fees than its main competitors.

CoinFeed reported on May 6th, citing Bloomberg, that Morgan Stanley is piloting cryptocurrency trading services on its E*Trade platform, charging a 50 basis point fee per transaction, lower than major competitors such as Coinbase, Robinhood, and Charles Schwab. E*Trade's approximately 8.6 million clients are expected to all receive this feature by the end of the year. The report notes that Morgan Stanley has been actively expanding its presence in the crypto space over the past year, having already launched the lowest-fee Bitcoin ETF, planning to launch Ether and Solana ETFs, and applying for a national trust bank license to provide digital asset custody. It will also support institutional clients trading tokenized stocks in the future.