Coinbase Has a Wall Street Problem: Morgan Stanley’s E*Trade Crypto Fees Turn Up the Heat
Morgan Stanley is piloting spot crypto trading on E*Trade at a 0.5% fee, undercutting Coinbase, Robinhood, and Schwab. Coinbase shares fell 2.6% to $192.85 in midday trading ahead of its earnings report. Bitcoin dropped 2.2% to near $79,840. Morgan Stanley plans to expand crypto trading to all 8.6 million E*Trade clients later this year.