Charles Schwab Launches Direct Bitcoin and Ether Trading for Retail Clients

Charles Schwab has officially launched its cryptocurrency trading platform, Schwab Crypto, for a select group of retail clients, expanding beyond indirect digital asset exposure into direct spot crypto trading.

The brokerage and banking firm confirmed that eligible retail investors can now trade Bitcoin and Ethereum directly through the platform alongside existing crypto-related investment products.

The rollout follows the company’s earlier announcement that Schwab Crypto would launch in phases as part of its broader expansion into digital asset services.

Charles Schwab Expands Beyond ETF and Derivatives Exposure

Prior to the launch, Charles Schwab’s crypto-related offerings were primarily limited to exchange-traded funds, futures products, and other indirect investment exposure.

Under the new structure, clients will maintain separate crypto accounts through Schwab Crypto while custody and infrastructure functions are distributed across multiple entities.

According to the company, Charles Schwab Premier Bank will act as crypto custodian, while Paxos will provide blockchain infrastructure, trade execution, and sub-custody services.

The platform currently supports crypto trading in most U.S. states except New York and Louisiana, with eligibility requirements varying by customer profile.

Schwab Crypto will charge a 75-basis-point fee per trade.

Traditional Financial Firms Continue Expanding Crypto Infrastructure

The launch reflects continued integration of digital asset services into mainstream financial institutions as large brokerages and banks expand crypto access for retail and institutional clients.

Rather than offering only investment exposure through third-party products, traditional financial firms are increasingly building direct crypto trading, custody, and settlement infrastructure within regulated financial environments.

The move also positions Charles Schwab more directly alongside expanding digital asset offerings from firms such as Fidelity Investments and other major financial institutions pursuing regulated crypto brokerage services.

Schwab Maintains Large Retail Brokerage Footprint

As of the end of March 2026, Charles Schwab reported approximately $11.77 trillion in client assets and 39.1 million active brokerage accounts.

The company posted adjusted net income of $2.6 billion during the first quarter of 2026, with earnings per share rising 38% year-over-year to $1.43. Quarterly revenue increased 16% year-over-year to $6.48 billion.

The launch of Schwab Crypto further signals how digital asset trading is increasingly being integrated into established brokerage infrastructure rather than remaining isolated within crypto-native platforms.