Charles Schwab Launches Direct Crypto Trading for Retail Clients

Charles Schwab has officially launched a service enabling its retail clients to buy and sell Bitcoin and Ethereum directly, marking a significant shift in its approach to cryptocurrency. This new offering is available to a client base of approximately 40.1 million retail investors, who previously had to rely on indirect exposure to crypto assets.

The service operates through the newly established Schwab Crypto account, which began its phased rollout on April 16, 2026, and became fully available to eligible clients by mid-October 2026. Clients can trade Bitcoin and Ethereum on Schwab's platforms, including Schwab.com, Schwab Mobile, and thinkorswim, with a flat trading fee of 0.75% for transactions valued between $1 and $2 million.

Schwab has partnered with Paxos for trade execution and sub-custody services, ensuring that the assets are securely held on behalf of Schwab clients. In addition to trading, the service includes educational resources and research tools to support investors.

However, not all clients will have access to this new service. Residents of New York and Louisiana, along with certain client categories, are excluded from participating. Currently, the trading options are limited to Bitcoin and Ethereum, but Schwab plans to introduce Solana, Avalanche, and Chainlink by the end of 2026.

As one of the largest brokerages in the U.S., managing approximately 40.3 million active brokerage accounts and $13.33 trillion in client assets, Schwab's entry into direct crypto trading is seen as a response to growing regulatory clarity and a market trend favoring direct asset ownership. This move follows similar strategies adopted by competitors like Fidelity and E*TRADE.

Schwab's research team remains optimistic about Bitcoin's future, citing strong fundamentals and regulatory progress that could benefit the broader market. Analyst Adam Lynch highlighted significant ETF inflows as evidence of sustained demand, while Jim Ferraioli noted a decrease in Bitcoin's volatility, indicating a more stable market environment.