Gate News message, April 16 — A major traditional brokerage announced a phased rollout of spot cryptocurrency trading for retail clients, with direct access to Bitcoin and Ethereum expected within the next few weeks. The new offering marks the firm’s formal entry into spot crypto trading and expands its digital asset lineup beyond exchange-traded products, futures, options, and crypto-related funds already available on its platform.
The new crypto service will allow clients to trade Bitcoin and Ethereum across multiple platforms. The firm will charge 0.75% on the dollar value of each crypto trade. At launch, Bitcoin and Ethereum—which together account for approximately 75% of the cryptocurrency market by capitalization—will be the only supported assets, though the firm plans to add more cryptocurrencies over time.
Clients will need to open a separate crypto account through the firm’s banking division, which will serve as custodian for digital assets. Paxos, an OCC-regulated blockchain infrastructure provider, has been selected to provide sub-custody and trade execution services. The company intends to add transfer functions in the future, allowing clients to deposit and withdraw digital assets directly.
This move reflects a broader shift among traditional financial firms expanding into crypto services. Morgan Stanley recently launched a spot Bitcoin ETF, while Goldman Sachs filed to introduce a Bitcoin income ETF. Meanwhile, crypto-native platforms are moving in the opposite direction, with some CEX platforms beginning to offer stock trading services.
Beyond trading, the new service will include digital asset education, market commentary, and coaching resources, along with round-the-clock phone and chat support.
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