🔥 E*TRADE launches crypto spot trading: the on-chain financial starting line for Wall Street

E*TRADE, a brokerage under Morgan Stanley, launched spot trading for Bitcoin, Ethereum, and Solana today. A fee of 50 basis points isn’t cheap, but the real signal is this: the broker, which has millions of retail accounts, is directly putting crypto assets into the same interface as traditional investment portfolios.
E*TRADE’s customers can view their stocks, ETFs, and crypto holdings all at once; the transfer feature will only open by the end of the year. This means crypto assets are being folded into the default view of mainstream wealth management—as a configurable asset class, not a speculative tool.
The infrastructure provider behind it, Zero Hash, is key. It allows traditional brokers to avoid building their own crypto custody and trading systems, and instead integrate via API. This “white-label” model is lowering the barrier for Wall Street to enter crypto. Today, BlackRock pulled out 80.6 million dollars’ worth of BTC and 6.69 million dollars’ worth of ETH from Coinbase Prime, which may be preparing liquidity for similar products.
But the risks are equally clear: the 50 basis point fee is far higher than Coinbase’s market maker fee rates, making it more expensive for retail users to buy and sell crypto on E*TRADE. And when the market is violently volatile, trading congestion on the broker side and customer service delays may become new friction points. The starting line for on-chain finance has been drawn, but the cost of running isn’t low.
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