Charles Schwab Launches Spot Bitcoin and Ethereum Trading for Select Retail Clients

Financial services giant Charles Schwab has officially launched direct spot trading for Bitcoin and Ethereum, marking a major step into the cryptocurrency market. The company said the first group of eligible retail clients gained access to its new platform, called Schwab Crypto, starting Tuesday.

The launch follows an earlier announcement that the brokerage would roll out crypto trading in phases. Until now, Schwab mainly offered indirect crypto exposure through ETFs and derivatives rather than direct ownership of digital assets.

Schwab Crypto Allows Direct Bitcoin and Ethereum Purchases

Through Schwab Crypto, approved retail clients can now buy and sell Bitcoin and Ethereum directly alongside other crypto-related investment products. Customers will hold a separate crypto account linked to the platform.

According to company details, Charles Schwab Premier Bank will act as the crypto custodian, while blockchain infrastructure provider Paxos will manage trade execution and sub-custody services.

The platform charges a 75-basis-point fee per trade, equal to 0.75% of each transaction. However, crypto trading is currently unavailable in New York and Louisiana, and eligibility requirements mean not all clients will immediately qualify.

The move could bring cryptocurrency exposure to millions of traditional investors. At the end of March 2026, Charles Schwab reported around $11.77 trillion in client assets and more than 39.1 million active brokerage accounts.