Charles Schwab launches spot BTC and ETH trading, opening first-batch retail access for early experience

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U.S. brokerage giant Charles Schwab has announced the launch of its cryptocurrency trading platform, "Schwab Crypto," for the first batch of eligible retail clients, opening up a new asset allocation channel for a wide range of investors and signaling an accelerating pace of Wall Street's embrace of digital assets. Charles Schwab stated on the social media platform X on Tuesday that the first group of eligible retail investors can now directly buy and sell Bitcoin and ETH on the platform, while also being able to invest in other cryptocurrency-related products. The launch of this service echoes the company's announcement last month regarding its plan to roll out the cryptocurrency trading platform in phases. Previously, Charles Schwab clients could only participate in the cryptocurrency market indirectly through ETFs and derivatives. According to an announcement in April this year, this new service, named "Schwab Crypto," allows clients to trade Bitcoin and ETH directly through a dedicated cryptocurrency account linked to their existing brokerage account. Charles Schwab noted that a fee of 75 basis points (0.75%) will be charged per transaction. The cryptocurrency accounts will be provided by its banking subsidiary, Charles Schwab Premier Bank, with Charles Schwab acting as the asset custodian. Trade execution and matching will be handled by blockchain infrastructure provider Paxos. According to the FAQ page on its official website, this cryptocurrency trading service is currently available in the vast majority of the United States, with the exception of New York and Louisiana due to regulatory factors. The company also specifically reminded that not all clients are eligible for cryptocurrency trading. As of the end of March this year, Charles Schwab had $11.77 trillion in client assets and 39.1 million active brokerage accounts. In the first quarter of this year, the company's adjusted net income was $2.6 billion, with earnings per share of $1.43, an increase of 38% compared to the same period last year. First-quarter revenue grew 16% year-over-year to $6.48 billion.

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Published:2026-05-13 07:50:49

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