Morgan Stanley don launch E*Trade Spot Crypto for 50 basis points

Morgan Stanley don start spot crypto trading for E*Trade from May 6, dem dey use Zerohash to provide BTC, ETH, and SOL for 50 bps per trade. Dem dey roll out pilot first to small group, and dem plan make access open to all 8.6 million E*Trade clients later for 2026. Morgan Stanley say e no just cheaper crypto: na to keep retail customers inside their wealth-management ecosystem, fit even build proprietary digital wallet where crypto fit dey alongside tokenized stocks, bonds, and real estate. Fee comparisons show say competition dey hot. Schwab dey at 75 bps, Coinbase retail rates fit pass 0.5% depending on tier/payment method, and other brokers usually charge higher retail spreads (e.g., Fidelity around 1%). Bloomberg ETF analyst Eric Balchunas warn exchanges suppose dey worried, e link the move to spot Bitcoin ETF fee race wey first price near ~50 bps and later dem undercut am. For traders, short-term lesson be say retail on-ramp price competition go intensify, fit make entry costs for BTC and ETH (and SOL) cheaper. E fit also pressure crypto venues wey depend heavy on trading fees, even if overall spot demand remain healthy.