TradFi’s Crypto Push Quickens as Morgan Stanley Starts Pilot and CME Moves to 24/7

Overview

• Morgan Stanley launched a pilot on ETrade for spot Bitcoin, Ether, and Solana trading at a 0.50% fee using Zerohash for the backend, with wider rollout to 8.6 million clients planned later this year.
• At 0.50%, the bank undercuts Coinbase’s 0.60% fee, Schwab’s 0.75% fee, and Robinhood’s typical 0.35% to 0.95% spreads, a move a Bloomberg analyst said could force broad fee cuts across the industry.
• CME Group will begin offering crypto futures and options around the clock on May 29, bringing traditional derivatives in line with crypto’s always-on spot markets and likely adding liquidity during weekends and nights.
• White House crypto adviser Patrick Witt set a target for the Clarity Act to be signed by July 4, outlining Senate Banking Committee work this month, a June Senate vote window, and a House vote before Independence Day.
• Anthropic struck a deal to use SpaceX’s Colossus 1 data center, gaining more than 300 megawatts of compute and over 220,000 Nvidia GPUs, which the company said will raise Claude’s subscriber capacity and API limits right away.