Charles Schwab is preparing to launch direct spot trading for Bitcoin (BTC) and Ethereum (ETH) in the coming weeks (phased rollout starting in Q2 2026, within the first half of the year). The service, branded Schwab Crypto, will operate through its subsidiary Charles Schwab Premier Bank and allow clients to buy/sell these assets directly alongside traditional stocks, bonds, and retirement accounts in one brokerage interface including Thinkorswim.
Phased approach begins with internal employee testing, followed by a limited early-access group from a waitlist already open, then broader availability to Schwab’s ~39–46 million clients and $11.8–12 trillion in client assets. Not in all states initially. Custody handled via the bank subsidiary, with execution reportedly involving partners like Paxos.
Pricing is round 0.75% per trade; described as among the lowest in the industry by Schwab, though some note it’s higher than certain pure crypto exchanges. Schwab intends to expand features over time, including potential deposits and withdrawals of digital assets and support for more tokens. It builds on existing crypto exposure options like Bitcoin/ETH ETFs, futures, and related equities and ETPs.
This marks a significant step for the traditional brokerage giant, integrating spot crypto directly rather than just ETFs or indirect exposure. CEO Rick Wurster has referenced progress toward this in earnings commentary. The move could onboard a large wave of mainstream retail and advisory clients into direct crypto ownership, potentially increasing liquidity and legitimacy for BTC and ETH, though the initial focus is narrow and controlled.
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Millions of Schwab’s ~39–46 million clients with ~$12 trillion in assets can now trade spot BTC and ETH directly alongside stocks, bonds, ETFs, and retirement accounts in one familiar interface. This eliminates the need to move funds to separate crypto exchanges, reducing friction, security concerns, and wallet anxiety for conservative or older investors.
Schwab positions the offering with research, tools, and guidance to treat crypto as part of a broader portfolio, potentially encouraging more thoughtful vs. speculative engagement compared to pure crypto platforms. Initial limits; not available in New York or Louisiana at launch; ~0.75% trading fee; phased rollout starting with employees and waitlist mean full impact will build gradually. No immediate support for deposits and withdrawals of actual crypto or additional tokens.