Charles Schwab Rolls Out Spot Crypto Trading to U.S. Retail Investors
Charles Schwab is gradually launching its "Schwab Crypto" service for eligible U.S. retail clients, offering direct spot trading in Bitcoin and Ethereum.
The firm says customers can view and manage crypto holdings within their existing Schwab accounts. Custody is provided by Charles Schwab Premier Bank, while Paxos handles underlying custody and trade execution.
Trades carry a 0.75% transaction fee. The platform currently does not allow deposits or withdrawals to external wallets. The service is not yet available to residents of New York and Louisiana.
Schwab oversees about $12 trillion in client assets. Its customers hold roughly 20% of total assets in U.S. spot crypto ETFs.