Charles Schwab is preparing to launch spot cryptocurrency trading for retail clients, marking a significant step in its expansion into digital assets.
The brokerage giant announced that it will introduce direct trading for Bitcoin and Ethereum through a dedicated crypto account linked to its existing platform. The rollout is expected to begin in phases over the coming weeks and will initially be available to eligible US clients, excluding residents of New York and Louisiana.
The new service will allow users to buy, sell and monitor crypto holdings alongside traditional assets such as stocks and ETFs across Schwab’s web interface, mobile app and Thinkorswim platform. Custody will be handled by Schwab’s banking subsidiary, while trade execution will be powered through a partnership with Paxos, a federally regulated trust company.
At launch, Schwab will charge a fee of 75 basis points per transaction, or 0.75%. This pricing places it above some crypto-native exchanges like Kraken, where fees can start lower depending on trading volume, and roughly in line with platforms such as Coinbase for smaller retail trades.
Schwab, which reported $12.22 trillion in client assets as of early 2026, has already established a presence in the crypto sector through exchange-traded products, futures, and crypto-linked funds. According to the company, its clients currently account for around 20% of holdings in spot crypto exchange-traded products.
Firms like Morgan Stanley and Goldman Sachs have recently expanded into crypto-related investment products, including Bitcoin ETFs and derivatives-based offerings.
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