• Charles Schwab launched direct Bitcoin and Ethereum trading for selected U.S. retail clients.

• Schwab charges a 0.75% crypto trading fee while expanding competition with Coinbase and Robinhood platforms.

  

• Schwab’s crypto expansion shows growing Wall Street adoption of digital assets and blockchain-based investment services

  

Brokerage giant Charles Schwab which manages nearly $11.8 trillion has officially launched spot crypto trading for Bitcoin and Ethereum, giving selected U.S. clients direct access to the two largest cryptocurrencies through its Schwab Crypto platform.

The move marks one of Schwab’s biggest crypto expansions so far, mid growing adoption of digital assets across traditional finance.

Charles Schwab Launch Crypto Accounts to Retail Clients

Starting this week, selected retail clients can trade Bitcoin and Ethereum directly through Schwab.com and thinkorswim accounts instead of relying only on ETFs or crypto-related stocks.

Until now, Schwab mainly offered indirect crypto exposure through ETFs, futures products, and crypto-linked investment vehicles. The new Schwab Crypto platform operates separately from standard brokerage accounts.

According to the company announcement, blockchain infrastructure firm Paxos handles trade execution and sub-custody services, while Schwab Premier Bank serves as the primary custodian. 

Schwab service is available in most U.S. states except New York and Louisiana during the early rollout phase.

Why Schwab’s Crypto Launch Matters

According to company data, Schwab clients currently hold roughly 20% of all assets invested in U.S. spot crypto ETPs, showing that demand for digital assets already exists heavily inside its customer base.

With the launch, Schwab is now competing directly with major crypto platforms like Coinbase, Robinhood, and Fidelity Investments. 

Schwab currently charges a flat 0.75% trading fee, while Fidelity Crypto charges spreads approaching 1%, Robinhood ranges between 0.35% and 0.85%, and Coinbase Advanced Trade starts around 0.6%.

Unlike Coinbase, which offers access to more than 260 cryptocurrencies, Schwab is taking a more conservative approach focused only on Bitcoin and Ethereum, the two assets that together account for nearly 75% of the total crypto market value.

Why Schwab Chose Bitcoin and Ethereum Only

Schwab currently supports only Bitcoin and Ethereum trading. Together, Bitcoin and Ethereum still account for nearly 75% of the entire crypto market capitalization.

That decision reflects how dominant the two assets remain across the broader crypto market.

Over the past year, traditional finance giants have rapidly expanded into crypto through spot Bitcoin ETFs, Ethereum ETFs, tokenized assets, stablecoin systems, and institutional custody services. 

Now, major brokerage platforms are beginning to offer direct crypto trading alongside traditional investments, showing how digital assets are becoming part of mainstream finance.

What Next?

Schwab already confirmed the rollout is happening gradually and may later expand into additional cryptocurrencies over time.

If adoption remains strong, other major financial institutions could accelerate similar direct crypto trading offerings to compete for institutional and retail demand.