The rollout is happening in phases, but some retail clients already have access.
Brokerage giant Charles Schwab has begun a phased rollout of its Schwab Crypto service. The first wave of retail clients has already gained access to direct spot trading of bitcoin (BTC) and Ethereum (ETH).
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Previously, the company only offered indirect crypto exposure through US spot ETFs, futures, and shares of related companies. Now, clients can trade crypto assets directly through a separate crypto account.
Trading Terms
- Custodian: Charles Schwab Premier Bank
- Trade execution: Paxos
- Commission: 0.75% per transaction
- Availability: All US states except New York and Louisiana
Read more: Morgan Stanley Launches Spot Crypto Trading: What You Need to Know
Scale of Reach
Charles Schwab manages $11.77T in assets and serves 39.1 million active brokerage accounts. The launch gives the company enormous potential to bring retail investors into crypto.
In the Q1 of 2026, Schwab’s revenue rose 16% to $6.48B, while net income increased 38%.
Additional Products
Beyond direct trading, Schwab offers clients:
- Spot and thematic ETFs, including its own Schwab Crypto Thematic ETF
- Shares of crypto companies such as Coinbase, Strategy, and Riot Platforms
- Crypto futures and options
The company emphasizes that it does not yet accept or make payments in cryptocurrency.
Learn more: Best Bitcoin Indicators for Timing the Market in 2026
