Charles Schwab has officially entered the spot cryptocurrency trading market by rolling out direct Bitcoin and Ethereum trading for select U.S. retail clients. The move marks a major shift for one of America’s largest traditional brokerages and signals growing mainstream acceptance of digital assets.
The new service, called “Schwab Crypto,” allows approved customers to buy and sell Bitcoin (BTC) and Ethereum (ETH) directly through Schwab’s existing investment platforms. Clients can access crypto trading alongside stocks, ETFs, and retirement accounts using the Schwab mobile app and thinkorswim platform.
Schwab Expands Beyond Crypto ETFs
Until now, Charles Schwab mainly provided crypto exposure through Bitcoin ETFs, futures, and other investment products. However, the company is now moving into direct digital-asset ownership as demand from retail investors continues to grow.
Schwab said the rollout will happen in phases to evaluate platform performance and customer interest before expanding access to more users. The brokerage manages nearly $12 trillion in client assets, making this one of the largest crypto integrations by a traditional financial institution.
At launch, Schwab only supports Bitcoin and Ethereum because they dominate the global cryptocurrency market.
Key details of the rollout include:
- Direct spot trading for BTC and ETH
- Integration with Schwab investing accounts
- Access through thinkorswim and mobile platforms
- Transaction fees set at 75 basis points
- Custody infrastructure supported by Paxos
The company also plans to introduce additional cryptocurrencies and enable crypto deposits and withdrawals in the future.
Wall Street Competition in Crypto Heats Up
Schwab’s expansion comes as major financial firms race to capture a larger share of the digital-asset market. Improving regulatory clarity in the United States has encouraged more traditional institutions to embrace crypto services.
Morgan Stanley recently announced plans to bring spot crypto trading to E*Trade users. Meanwhile, Fidelity and Interactive Brokers have already expanded their crypto offerings for retail customers.
Schwab’s entry into spot crypto trading carries symbolic importance for the industry. The brokerage has long been associated with conservative investing strategies and retirement-focused clients.
By adding direct Bitcoin and Ethereum trading, Schwab is signaling that cryptocurrencies are increasingly becoming accepted as mainstream portfolio assets instead of speculative alternatives.
