Charles Schwab has launched direct Bitcoin and Ethereum trading for eligible US retail clients.
Bitcoin News
Charles Schwab has begun rolling out direct spot cryptocurrency trading to its first wave of eligible retail clients.
The firm confirmed the launch in a May 13 post on X, stating that users can now trade Bitcoin (BTC) and Ethereum (ETH) inside a standard Schwab brokerage account alongside stocks and other investments. Schwab manages more than $11 trillion in client assets and serves 39.1 million active brokerage accounts as of March 2026.
The service operates under the Schwab Crypto brand as a separate account linked to a client's existing Schwab portfolio. Charles Schwab Premier Bank holds custody of the digital assets. Blockchain infrastructure provider Paxos handles trade execution and sub-custody. Clients can access the service through Schwab's web, mobile, and Thinkorswim platforms, according to the company's April announcement.
Schwab Crypto charges a fee of 75 basis points per transaction. The service is available in all US states except New York and Louisiana. Schwab noted that not all clients will qualify for crypto trading. The rollout follows the firm's April announcement that spot crypto access would be introduced in phases.
Schwab Expands Beyond Indirect Crypto Access
The launch marks a material expansion from Schwab's previous crypto offerings, which covered only indirect exposure through ETFs, futures, and digital asset funds. Bringing BTC and ETH into a conventional brokerage account removes the additional steps that previously directed retail investors toward standalone crypto platforms or indirect products. The integration makes buying Bitcoin operationally similar to purchasing any listed equity within the same account interface.
Schwab reported record first-quarter net income of $2.5 billion, or $1.37 per diluted share, for Q1 2026, up 30% year-over-year. Total net revenues rose 16% to $6.5 billion during the same period. Adjusted earnings per share reached $1.43, up 38% from a year earlier, while total client assets grew 19% to $11.77 trillion.
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