Charles Schwab launches crypto trading for ‘first group of clients’

Charles Schwab has begun rolling out spot Bitcoin and Ether trading to its first group of retail clients, expanding direct crypto access inside one of the largest US brokerage platforms.

“Schwab Crypto accounts are now being rolled out to retail clients,” the company wrote in a Tuesday post on X. “Starting today, the first group of clients can trade Bitcoin and Ethereum at Schwab, right alongside their other investments.”

The firm, which manages more than $11 trillion in client assets and serves tens of millions of retail investors, first announced in April that it is rolling out spot crypto trading. At the time, the brokerage firm said clients will be able to trade and view crypto alongside stocks and other assets across Schwab’s web, mobile and Thinkorswim platforms, with custody held by its banking unit and execution handled through Paxos.

Source: Charles Schwab

The service will carry a fee of 75 basis points per transaction and will initially exclude residents of New York and Louisiana. The launch expands Schwab’s existing crypto offerings, which already cover ETFs, futures and digital asset funds.

Related: Morgan Stanley Emerges as Crypto Exchange Rival via Crypto Pilot

Schwab brings crypto to the mainstream

When a traditional broker of Schwab’s scale integrates crypto directly into standard brokerage accounts, it brings digital assets into mainstream investing for millions of ordinary investors, Chinese-language crypto news account HashNews wrote on X.

The user noted that for investors with 401(k)s and standard brokerage accounts, buying Bitcoin becomes as straightforward as buying Apple stock, reducing the friction that previously pushed retail investors toward dedicated crypto exchanges or indirect exposure through Grayscale products and ETFs.

“This isn't a trading call,” HashNews said. “It’s a signal at the infrastructure level: Crypto assets are shifting from ‘alternative investments’ to ‘standard allocations,’” it added.

Related: Charles Schwab, Citadel Both Mull Prediction Market Play

Schwab reports record Q1

Last month, Schwab reported record first-quarter net income of $2.5 billion, or $1.37 per diluted share, up 30% year-over-year, as total net revenues climbed 16% to $6.5 billion.

Adjusted earnings per share came in at $1.43, up 38% from a year earlier, while total client assets grew 19% to $11.77 trillion across 39.1 million active brokerage accounts.

Magazine: Guide to the top and emerging global crypto hubs — Mid-2026