Charles Schwab Introduces Direct Bitcoin and Ethereum Trading for Retail Clients

Charles Schwab has launched a new service enabling its retail clients to directly buy and sell Bitcoin and Ethereum. The Schwab Crypto account, which began a phased rollout on April 16, 2026, achieved full availability for eligible clients by October 15-16, 2026. This development marks a significant step for the major financial institution in offering direct access to digital assets.

The Schwab Crypto account allows clients to trade spot Bitcoin and Ethereum through Schwab.com, Schwab Mobile, and the thinkorswim platform. According to Charles Schwab, a trading fee of 0.75% is applied to trades valued between $1 and $2 million. Paxos is handling the trade execution and sub-custody services for this offering.

While the service is now broadly available to eligible retail clients, it is not offered in New York and Louisiana. These geographic exclusions mean that a portion of potential users remains unable to access the service in the short term. Charles Schwab manages approximately 40.3 million active brokerage accounts and holds $13.33 trillion in client assets, indicating the potential scale of this new offering.

Charles Schwab has indicated plans to expand the cryptocurrency offerings by the end of 2026, with Solana, Avalanche, and Chainlink slated for addition. This expansion follows a period of growing regulatory clarity and a market environment that increasingly favors direct trading of digital assets. Rick Wurster framed the business development in commercial terms, identifying crypto trading as a new source of transaction-based revenue for the firm.

For years, Schwab customers seeking exposure to cryptocurrencies had to rely on indirect methods. Now, they can own the actual digital coins within the same platforms used for traditional investments like index funds and retirement accounts. The service also includes educational resources, research tools, and ongoing support.

Charles Schwab is not the first major brokerage to offer direct crypto trading. Competitors such as Fidelity and E*TRADE have also pursued similar strategies. The exact timeline for the gradual addition of crypto transfers into and out of the Schwab Crypto account remains uncertain, as does the specific categorization of any other excluded client segments.

The phased rollout and the current limitations, including geographic restrictions, suggest a measured approach by Charles Schwab as it enters the direct cryptocurrency trading space. The firm’s plans for future additions indicate a commitment to growing its digital asset services.

Why This Matters

The materials describe a narrow update: Charles Schwab introduced a new service allowing its retail clients to directly buy and sell Bitcoin and Ethereum. The exact timeline for adding crypto transfers.

Broader Context

Source materials place the factual news in this context: For years, Schwab customers who wanted crypto had to settle for indirect exposure.