diff --git a/s3fs/core.py b/s3fs/core.py
index 508bdcbc..c60b66e7 100644
--- a/s3fs/core.py
+++ b/s3fs/core.py
@@ -36,6 +36,7 @@ def setup_logging(level=None):
 if "S3FS_LOGGING_LEVEL" in os.environ:
     setup_logging()
 
+MANAGED_COPY_THRESHOLD = 5 * 2 ** 30
 S3_RETRYABLE_ERRORS = (socket.timeout,)
 
 _VALID_FILE_MODES = {"r", "w", "a", "rb", "wb", "ab"}
@@ -1311,6 +1312,54 @@ async def _copy_basic(self, path1, path2, **kwargs):
             raise ValueError("Copy failed (%r -> %r): %s" % (path1, path2, e)) from e
         self.invalidate_cache(path2)
 
+    async def _copy_etag_preserved(self, path1, path2, size, total_parts, **kwargs):
+        """Copy file between locations on S3 as multi-part while preserving
+        the etag (using the same part sizes for each part"""
+
+        bucket1, key1, version1 = self.split_path(path1)
+        bucket2, key2, version2 = self.split_path(path2)
+
+        mpu = await self._call_s3(
+            self.s3.create_multipart_upload, Bucket=bucket2, Key=key2, **kwargs
+        )
+        part_infos = await asyncio.gather(
+            *[
+                self._call_s3(
+                    self.s3.head_object, Bucket=bucket1, Key=key1, PartNumber=i
+                )
+                for i in range(1, total_parts + 1)
+            ]
+        )
+
+        parts = []
+        brange_first = 0
+        for i, part_info in enumerate(part_infos, 1):
+            part_size = part_info["ContentLength"]
+            brange_last = brange_first + part_size - 1
+            if brange_last > size:
+                brange_last = size - 1
+
+            part = await self._call_s3(
+                self.s3.upload_part_copy,
+                Bucket=bucket2,
+                Key=key2,
+                PartNumber=i,
+                UploadId=mpu["UploadId"],
+                CopySource=path1,
+                CopySourceRange="bytes=%i-%i" % (brange_first, brange_last),
+            )
+            parts.append({"PartNumber": i, "ETag": part["CopyPartResult"]["ETag"]})
+            brange_first += part_size
+
+        await self._call_s3(
+            self.s3.complete_multipart_upload,
+            Bucket=bucket2,
+            Key=key2,
+            UploadId=mpu["UploadId"],
+            MultipartUpload={"Parts": parts},
+        )
+        self.invalidate_cache(path2)
+
     async def _copy_managed(self, path1, path2, size, block=5 * 2 ** 30, **kwargs):
         """Copy file between locations on S3 as multi-part
 
@@ -1351,15 +1400,36 @@ async def _copy_managed(self, path1, path2, size, block=5 * 2 ** 30, **kwargs):
         )
         self.invalidate_cache(path2)
 
-    async def _cp_file(self, path1, path2, **kwargs):
-        gb5 = 5 * 2 ** 30
+    async def _cp_file(self, path1, path2, preserve_etag=None, **kwargs):
+        """Copy file between locations on S3.
+
+        preserve_etag: bool
+            Whether to preserve etag while copying. If the file is uploaded
+            as a single part, then it will be always equalivent to the md5
+            hash of the file hence etag will always be preserved. But if the
+            file is uploaded in multi parts, then this option will try to
+            reproduce the same multipart upload while copying and preserve
+            the generated etag.
+        """
         path1 = self._strip_protocol(path1)
         bucket, key, vers = self.split_path(path1)
-        size = (await self._info(path1, bucket, key, version_id=vers))["size"]
-        if size <= gb5:
+
+        info = await self._info(path1, bucket, key, version_id=vers)
+        size = info["size"]
+
+        _, _, parts_suffix = info["ETag"].strip('"').partition("-")
+        if preserve_etag and parts_suffix:
+            await self._copy_etag_preserved(
+                path1, path2, size, total_parts=int(parts_suffix)
+            )
+        elif size <= MANAGED_COPY_THRESHOLD:
             # simple copy allowed for <5GB
             await self._copy_basic(path1, path2, **kwargs)
         else:
+            # if the preserve_etag is true, either the file is uploaded
+            # on multiple parts or the size is lower than 5GB
+            assert not preserve_etag
+
             # serial multipart copy
             await self._copy_managed(path1, path2, size, **kwargs)
 
diff --git a/s3fs/tests/test_s3fs.py b/s3fs/tests/test_s3fs.py
index dbe14f1a..e1d253d5 100644
--- a/s3fs/tests/test_s3fs.py
+++ b/s3fs/tests/test_s3fs.py
@@ -7,6 +7,7 @@
 from concurrent.futures import ProcessPoolExecutor
 import io
 import os
+import random
 import requests
 import time
 import sys
@@ -14,6 +15,7 @@
 import moto
 from itertools import chain
 import fsspec.core
+import s3fs.core
 from s3fs.core import S3FileSystem
 from s3fs.utils import ignoring, SSEParams
 from botocore.exceptions import NoCredentialsError
@@ -1921,3 +1923,35 @@ def create_file(content: bytes):
         create_file(content2)
         with expect_errno(errno.EBUSY):
             f.read()
+
+
+def test_s3fs_etag_preserving_multipart_copy(monkeypatch, s3):
+    # Set this to a lower value so that we can actually
+    # test this without creating giant objects in memory
+    monkeypatch.setattr(s3fs.core, "MANAGED_COPY_THRESHOLD", 5 * 2 ** 20)
+
+    test_file1 = test_bucket_name + "/test/multipart-upload.txt"
+    test_file2 = test_bucket_name + "/test/multipart-upload-copy.txt"
+
+    with s3.open(test_file1, "wb", block_size=5 * 2 ** 21) as stream:
+        for _ in range(5):
+            stream.write(b"b" * (stream.blocksize + random.randrange(200)))
+
+    file_1 = s3.info(test_file1)
+
+    s3.copy(test_file1, test_file2)
+    file_2 = s3.info(test_file2)
+    s3.rm(test_file2)
+
+    # normal copy() uses a block size of 5GB
+    assert file_1["ETag"] != file_2["ETag"]
+
+    s3.copy(test_file1, test_file2, preserve_etag=True)
+    file_2 = s3.info(test_file2)
+    s3.rm(test_file2)
+
+    # etag preserving copy() determines each part size for the destination
+    # by checking out the matching part's size on the source
+    assert file_1["ETag"] == file_2["ETag"]
+
+    s3.rm(test_file1)