Morgan Stanley is intertwining digital asset with TradFi, rolling out spot crypto trading on E*TRADE with a discount pricing strategy undercuting that of a close legacy brokerage competitor.

What’s the Scoop?

• Crypto Pilot: E*TRADE – the online brokerage platform owned by banking giant Morgan Stanley – has begun a spot crypto trading pilot program, opening the door for its 8.6M retail clients to directly buy and sell digital assets. The addition of spot crypto trading will complement Morgan Stanley’s recently launched spot BTC ETF (MSBT), which has accumulated $211M of inflows since launching last month on April 8.

• Fee Structure: Although E*TRADE is instituting a 50 basis point (0.5%) fee on crypto transactions, making…