Charles Schwab Launches Spot Bitcoin and Ethereum Trading
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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. 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.
