Morgan Stanley is expanding its digital assets push by rolling out crypto trading on its E*Trade platform, positioning the offering as a lower-cost option to established retail crypto services.

The bank is currently running a pilot that charges the E*Trade users a fee of 50 basis points on transaction value, according to Bloomberg. That’s notably lower cost than other major players, including Coinbase, Robinhood and Charles Schwab, which charge 60 to 95 basis points.

Morgan Stanley’s Head of Wealth Management, Jed Finn, said the initiative goes beyond offering cheaper crypto trading and is aimed at “disintermediating the disintermediators,” framing it as a broader structural shift in how clients access digital assets.

The investment…