Charles Schwab has announced a phased launch of spot cryptocurrency trading for retail clients, with direct access to Bitcoin and Ethereum expected in the next few weeks. The new offering, called Schwab Crypto, marks the brokerage’s formal entry into spot crypto trading and expands its digital asset lineup beyond exchange-traded products, futures, options, and crypto-related funds already available on its platform. The company said Schwab Crypto will allow clients to trade Bitcoin and Ethereum alongside traditional investments across Schwab.com, Schwab Mobile, and thinkorswim. The rollout comes as more traditional financial firms move further into digital assets and as crypto-native platforms expand into stock trading and broader financial services. Schwab said the product is designed for retail investors who want direct access to major cryptocurrencies while keeping those holdings within the same broader investing ecosystem they already use. The firm plans to charge 75 basis points, or 0.75%, on the dollar value of each crypto trade. Based on the fee details provided in the company materials, that would place Schwab below Fidelity Crypto’s 1% fee and within the range of other retail platforms including Robinhood and Coinbase. Schwab Crypto Adds Direct BTC and ETH Access At launch, Schwab Crypto will support only Bitcoin and Ethereum, which the company said together account for about three-quarters of the cryptocurrency market by capitalization. Schwab also said it intends to add more cryptocurrencies over time, along with transfer functions for deposits and withdrawals so clients can move digital assets onto the platform in the future. The company said clients will need a separate crypto account through Charles Schwab Premier Bank, which will be linked directly to their brokerage accounts. Schwab Premier Bank will serve as custodian for client digital assets and handle safekeeping and record-keeping. Paxos, an OCC-regulated blockchain infrastructure provider, has been selected to provide sub-custody and trade execution services. Jonathan Craig, Schwab’s head of retail investing, said the product is meant to let clients access crypto alongside their other investments while using the research, service, and education already associated with the Schwab brand. Joe Vietri, head of digital assets at Charles Schwab, said the company aims to build an all-in-one investing and banking experience for clients interested in adding crypto exposure to their portfolios. Traditional Brokers Expand Crypto Services Schwab’s launch adds to a broader shift among large financial firms that had previously limited their direct crypto offerings. Morgan Stanley recently launched a spot Bitcoin ETF, while Goldman Sachs filed to introduce a Bitcoin income ETF, according to the material provided. Fidelity, one of Schwab’s largest rivals, entered the crypto market earlier and introduced a crypto trading app in 2023 after years of digital asset activity across retirement and charitable products. At the same time, crypto-native firms are moving in the opposite direction. Coinbase began rolling out commission-free stock trading in January, and Kraken followed with stock trading this week. Schwab’s new product therefore places the firm in more direct competition with both traditional brokerage rivals and digital asset platforms that are trying to build multi-asset financial businesses. Schwab said client interest has remained a central driver behind the launch. In company comments cited in the supplied material, executives said many clients already keep the vast majority of their wealth at Schwab but hold a small portion at digital-native firms for crypto exposure. The new offering is intended to bring those assets back into one account environment. Education and Support Form Part of the Rollout Beyond trading, Schwab said the new product will include digital asset education, market commentary, and coaching resources through the Schwab Center for Financial Research and Schwab Coaching. The company also said clients will have access to round-the-clock support by phone or chat as part of the service. Schwab cited a 2025 survey of 460 current and prospective crypto investors that found low and transparent pricing, brand reputation, and asset security were among the main factors people considered when choosing a crypto trading platform. The company is using those themes as part of the rollout as it tries to attract investors looking for direct crypto access through an established brokerage. Schwab shares fell about 5% on Thursday after the company reported a first-quarter revenue miss earlier in the day.
