E*Trade completed its long-awaited rollout of spot bitcoin, ether, and solana trading for U.S. clients on July 16, adding the three largest non-stablecoin digital assets to its existing interface. Eligible customers can now buy, sell, and hold the cryptocurrencies alongside stocks and ETFs, with the brokerage charging a flat 50 basis point fee — a rate that directly undercuts the fees charged by several Wall Street rivals in the retail crypto race.
One interface, three tokens
The rollout covers bitcoin, ether, and solana — the three tokens by market cap that sit outside the stablecoin category. E*Trade clients don’t need a separate crypto wallet or a second login; the assets appear inside the same dashboard they already use for equities. That kind of integration is the playbook every traditional brokerage is trying to copy, but E*Trade got there this week with a fee structure that’s noticeably cheaper than what competitors like Robinhood and Charles Schwab offer for comparable spot trades.
Why the fee matters
Fifty basis points per trade — that’s half a percent. Robinhood’s crypto fee is currently 1 percent for most trades, though it drops for high-volume users. Fidelity’s spot crypto offering charges 1 percent as well. E*Trade’s 50 bps is an aggressive bid for volume, especially among the kind of retail traders who move in and out of positions frequently. The timing isn’t great for the broader market — crypto prices have been choppy all month — but a lower fee doesn’t hurt when you’re trying to win share.
What users saw Tuesday
On July 16, the rollout went live without any major hiccups. Users on social media reported seeing the new crypto trading tiles in their accounts by mid-morning. The brokerage didn’t issue a flashy press release; it just flipped the switch. For clients who had already been waiting through the earlier pilot phases, the full launch capped a process that had been teased for months.
Who’s left on the sidelines
E*Trade, owned by Morgan Stanley, is now the third major U.S. brokerage to offer spot crypto trading to retail clients, after Robinhood and Fidelity. But the big one — Merrill Lynch and Bank of America — still hasn’t moved. Nor has J.P. Morgan’s retail arm. The Wall Street crypto race is still in its early innings, and E*Trade just put a very clear price on the table. Whether rivals match the 50 bps fee or try to compete on something else will be the next concrete question — and the answer could come as soon as the next earnings calls this month.
