Clients will need to purchase Bitcoin or Ethereum directly through Schwab Crypto rather than transfer existing holdings in.
Bitcoin News
Charles Schwab has started rolling out a spot crypto trading platform for retail clients, offering direct access to Bitcoin and Ethereum for the first time. The service is called Schwab Crypto and will be introduced in phases over the coming weeks. The launch confirms the firm's previously stated second-quarter timeline.
Clients will trade through dedicated crypto accounts linked to their existing Schwab brokerage accounts. Schwab will charge 75 basis points per transaction. Charles Schwab Premier Bank will act as custodian, and blockchain infrastructure firm Paxos will handle trade execution.
The platform launches with several restrictions in place. Crypto deposits and withdrawals will not be available at the outset. Clients will need to purchase Bitcoin or Ethereum directly through Schwab Crypto rather than transfer existing holdings in. New York and Louisiana residents will not have access at launch. Bitcoin Ethereum
This marks a significant expansion from Schwab's previous crypto offerings, which were limited to indirect exposure through exchange-traded funds and derivatives. The firm reported $12.22 trillion in client assets and nearly 39 million active brokerage accounts as of early 2026. That scale gives the launch added weight as traditional financial institutions push further into digital assets.
Schwab said it plans to add more cryptocurrencies and enable transfers over time, though no specific timeline was provided for either. The rollout puts Schwab in more direct competition with Coinbase, Robinhood, and other platforms that have offered spot crypto access for years.
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