E*Trade has launched its cryptocurrency trading service in which customers see their crypto alongside stocks and other assets. Initially the assets available are bitcoin, Ether and Solana, and transfers to or from the platform will be available later this year. That’s not unusual for newly launched trading apps.
It was previously announced that E*Trade partnered with Zerohash as the provider of the solution and the trading fees amount to 50 basis points. While other platforms offer free trading, E*Trade claims it’s cheaper because the others have spreads which are higher than 50 basis points on a $1,000 trade, whereas E*Trade offers zero spread.
Morgan Stanley noted that it plans to move the activities to its trust charter subsidiary, which applied to the OCC for a license in January. We explored the rationale for separating the activities at the time.
Article continues …
Want the full story? Pro subscribers get complete articles, exclusive industry analysis, and early access to legislative updates that keep you ahead of the competition. Join the professionals who are choosing deeper insights over surface level news.
