Charles Schwab Launches Spot BTC and ETH Trading for Retail Clients

Charles Schwab has begun rolling out direct spot cryptocurrency trading to its first wave of eligible retail clients. The move marks a significant shift for one of America's most prominent financial institutions, bringing Bitcoin and Ethereum into the same interface where millions of Americans already manage their stocks and bonds.

What Schwab Is Offering

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. Key details of the offering include:

• Platform: Operates under the Schwab Crypto brand as a separate account linked to a client's existing Schwab portfolio
• Custody: Charles Schwab Premier Bank holds custody of the digital assets, while blockchain infrastructure provider Paxos handles trade execution and sub-custody
• Access: Available through Schwab's web, mobile, and Thinkorswim platforms, with a fee of 75 basis points per transaction
• Availability: The service is available in all U.S. states except New York and Louisiana, and not all clients will qualify for crypto trading

From Indirect Exposure to Direct Ownership

The launch marks a material expansion from Schwab's previous crypto offerings, which covered only indirect exposure through ETFs, futures, and digital asset funds. As one of the world's largest brokerage firms, Schwab can now offer approximately 35 million clients the opportunity to trade BTC and ETH within their familiar environment, without needing to register on a separate cryptocurrency exchange.

CEO Rick Wuster had stated in July of last year that the company planned to introduce cryptocurrency trading in the near future, with the timeline confirmed as the first half of 2026. The phased rollout follows through on that commitment.

Schwab's Financial Position

The launch arrives against a backdrop of strong institutional momentum. 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. Additional financial highlights:

• 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
• The firm manages more than $11 trillion in client assets and serves 39.1 million active brokerage accounts as of March 2026

Broader Market Implications

The ability to trade actual digital assets directly through companies the size of Charles Schwab could be a key accelerator in the mainstream adoption of cryptocurrency. By removing the friction of onboarding to a dedicated crypto exchange, Schwab is effectively lowering the barrier to entry for tens of millions of retail investors who are already familiar with the platform's interface — a development that carries meaningful implications for broader market participation in digital assets. (***)