Morgan Stanley E*Trade officially enters retail crypto trading with a 50 basis point fee rate, Coinbase and Block both release Q1 2026 earnings reports after market close today

Mars Finance News, according to BBX data, yesterday saw a major breakthrough in retail crypto allocation by Wall Street institutions. Today, with the earnings season’s dual verification milestone approaching, the key updates are as follows: Morgan Stanley (NYSE: $MS) disclosed via Bloomberg on May 6 that its ETrade platform has officially launched a pilot for spot cryptocurrency trading. The fee is 50 basis points per transaction, lower than Coinbase (retail fee rates vary by tier and payment method, and may exceed 50 basis points), Robinhood (about 100 basis points, estimated by the media), and Charles Schwab (75 basis points). The pilot initially supports BTC, ETH, and SOL, with liquidity, custody, and settlement services provided by Zerohash. The pilot is currently available to some users, and it plans to open it to all 8.6 million ETrade customers by the end of 2026. Head of Wealth Management Jed Finn described this move as a “reverse disruptor disrupts the disruptor,” and Morgan Stanley is also advancing its application for a national trust bank license to enable self-directed custody, while planning to launch spot ETFs for Ethereum and Solana.

Coinbase Global, Inc. (NASDAQ: $COIN) will release its Q1 2026 earnings after market close today (May 7), with the earnings call scheduled for 2:30 PM (PT). Analysts’ consensus expects Q1 revenue of approximately $1.5 billion (about -26% year over year), and EPS of around $0.23–$0.36 (a sharp decline from $1.94 in the same period last year). The most closely watched core indicator today will be the relative resilience of subscription and service revenue (including stablecoins, custody, and staking).

Block, Inc. (NYSE: $XYZ) will also release its Q1 2026 earnings after market close today (May 7), with an earnings call at 2:00 PM (PT). Analysts’ consensus expects revenue of approximately $6.04 billion to $6.11 billion (up 5.79% year over year), and EPS of $0.68 (about a 21% increase versus approximately $0.56 in the same period last year). Consensus for Bitcoin ecosystem revenue is approximately $2.11 billion (below $2.30 billion in the same period last year). Evercore ISI maintains an “Outperform” rating, with a target price of $96 (implying about 35% upside from the current stock price of $70.92). It will focus on the recovery progress of the two major business lines, Square and Cash App.