Charles Schwab Rolls Out Spot Bitcoin And Ether Trading For US Retail Clients

Charles Schwab will roll out spot cryptocurrency trading for retail clients in the coming weeks, starting with Bitcoin and Ether, through a dedicated account linked to its brokerage platform.

“Charles Schwab has announced Schwab Crypto™, a spot crypto trading service beginning a phased rollout to retail clients in the coming weeks”

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The service, described as “Schwab Crypto,” will let clients “trade and view crypto alongside stocks and other assets across Schwab’s web, mobile and Thinkorswim platforms,” with custody held by Schwab’s banking unit and execution handled through a partnership with Paxos.

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Schwab said the offering will support trading in Bitcoin (BTC) and Ether (ETH) at a fee of 75 basis points per transaction, and the rollout will begin in phases over the coming weeks.

At launch, the service is initially limited to eligible US retail clients except residents of New York and Louisiana, according to the rollout description.

The Block reported that “Crypto deposits and withdrawals will be disabled on launch; clients will need to purchase bitcoin and ethereum through Schwab Crypto,” adding an early constraint to the phased plan.

Schwab’s platform is positioned as integrated with existing brokerage access, with clients able to trade within the same accounts they use for stocks and other traditional investments, as described in coverage that said the capability will be available in the coming weeks.

Schwab also reported large scale in its client base, with one report citing “$12.22 trillion in total client assets as of February 2026” and another describing “39 million active brokerage accounts.”

Schwab’s direct spot offering is built around a specific fee and a specific operational structure, with multiple outlets describing how the platform connects trading, custody, and execution.

Cointelegraph said the service will charge “a fee of 75 basis points per transaction,” and it also described Schwab’s pricing as “At 75 bps, or 0.75%, Schwab’s fee places it above exchanges such as Kraken” while being “broadly in line with Coinbase” based on exchange fee information.

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Crypto-focused coverage also framed the same pricing as a flat cost, stating “Trading will be priced at 75 basis points, per the release,” and another report described “flat fee of 0.75% per transaction.”

On the custody and execution side, multiple reports tied the structure to Charles Schwab Premier Bank, SSB and Paxos, with one account saying “Charles Schwab Premier Bank, SSB, (CSPB) will provide crypto custody for clients” and that “the bank has tapped Paxos for trade execution services and sub-custody.”

Bitbo similarly described that “Clients will hold a separate crypto account through Charles Schwab Premier Bank, SSB, linked directly to their brokerage accounts,” while “Paxos, an OCC-regulated blockchain infrastructure provider, will handle sub-custody and trade execution.”

The Block added that the rollout is introduced in phases and that a waitlist phase occurred earlier this month, while also noting that Schwab reported “over $12 trillion in client assets” and “nearly 39 million active brokerage accounts.”

Schwab’s access points were also repeated across outlets, including “Schwab.com, the Schwab Mobile app, and thinkorswim,” and one report said clients would get “24/7 phone and chat support from Schwab service professionals.”

Schwab’s move is presented as part of a broader shift in how major financial firms approach crypto, with outlets tying the timing to regulatory clarity and to Schwab’s own stated client demand.

“Charles Schwab is rolling out direct bitcoin and ethereum trading to retail clients through a new offering called Schwab Crypto, priced at 75 basis points per trade”

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Crypto Briefing said Schwab’s entry came “amid regulatory clarity,” and it described Schwab’s plan to offer “direct trading in Bitcoin and Ether” to retail clients.

Cointelegraph said Schwab’s rollout “expands its existing crypto offerings, which include exchange-traded products, futures and funds tied to digital assets,” and it also said Schwab’s clients “currently hold about 20% of spot crypto exchange-traded products, based on internal estimates.”

Decrypt reported that Schwab President and CEO Rick Wurster said “At some point, we will likely have prediction markets,” while also quoting Wurster’s distinction that wagers should be tied to “financial events” rather than “sports, politics, and pop culture,” and it then connected the same earnings-call context to Schwab’s crypto rollout.

Quartz quoted Wurster’s earlier remarks to CNBC about client behavior, saying “What we hear from many of our clients is that they have 98% of their wealth here at Schwab and they might hold a percent or 2% at some digital native firm to hold their crypto.”

The Block described Schwab’s phased rollout as a “big step up from Schwab's previous offerings of indirect crypto exposure via exchange-traded funds and derivatives,” and it said Schwab’s new offering is designed to give retail clients access to spot trading through dedicated crypto accounts linked to traditional brokerage accounts.

Multiple reports also described Schwab’s survey-based approach, including a survey of “460 cryptocurrency owners and prospective buyers” and a finding that “low transparent pricing, brand familiarity, and asset security” were among the top factors.

Schwab’s announcement arrived alongside other institutional crypto product moves, and several outlets placed Schwab’s spot trading within a wider pattern of Wall Street expansion into digital assets.

Cointelegraph described traditional firms expanding into crypto through regulated products, citing that “On April 8, Morgan Stanley launched a spot Bitcoin ETF (MSBT) that recorded $30.6 million in inflows on its first day of NYSE Arca trading,” and it added that “The fund website showed total net assets at $87.6 million as of April 15.”

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Cointelegraph also said “Also in April, Goldman Sachs filed with the US Securities and Exchange Commission to launch a Bitcoin-linked ETF designed to generate income through options strategies.”

At the same time, Cointelegraph contrasted that trend with “crypto-native companies are moving in the opposite direction, pushing into traditional markets through tokenized equities,” and it cited that “In December, Coinbase introduced trading for equities and ETFs” while “in February Kraken launched tokenized equity perpetual futures.”

Quartz framed the competitive stakes more directly by comparing Schwab’s 0.75% fee to other retail options, stating that Schwab’s fee is “above Robinhood, which does not charge commissions on crypto trades, though well below Coinbase's retail fee ceiling of 4%.”

The Block similarly said Schwab’s new platform puts it “more directly in competition with crypto-native platforms such as Coinbase and retail trading apps like Robinhood, as well as other traditional firms exploring similar offerings.”

Together, the coverage shows Schwab stepping into a market where both product types and distribution channels are shifting, from ETFs and futures to direct retail spot access.

Schwab’s rollout is described as phased, with future expansion plans that include adding more cryptocurrencies and enabling deposits and withdrawals over time, while the initial launch includes restrictions.

Cointelegraph said “At launch, the service will support trading in the two biggest cryptocurrencies, Bitcoin (BTC) and Ether (ETH),” and it added that “plans to add more cryptocurrencies and enable deposits and withdrawals over time.”

Cointelegraph

The Defiant reported that Schwab “plans to enable deposits and withdrawals in the future,” and it described the current product as implying “the current product only allows for crypto buying and selling within Schwab platform.”

The Block provided a concrete early constraint by saying “Depositing and withdrawing digital assets will be disabled on launch,” and it also stated that clients “will have to purchase any BTC or ETH that they want to trade directly through Schwab.”

Several outlets also described the phased rollout timeline in terms of “coming weeks,” and one report said “The phased rollout will be the thing to watch over the next several months,” while another said Schwab’s rollout begins in the coming weeks and will be limited to eligible US retail clients except New York and Louisiana.

Schwab’s integration strategy was also framed as a longer-term portfolio destination, with Joe Vietri quoted in The Defiant saying “With Schwab Crypto, investors can access familiar cryptocurrencies within an all‑in‑one investing and banking experience, backed by an ecosystem of education, tools, resources, and support so they can make informed decisions about how crypto might fit into their broader investing goals.”

Bitbo described additional educational and support elements, including “educational resources from the Schwab Center for Financial Research,” “crypto-focused content through Schwab Coaching®,” and “24/7 support from service professionals.”