Charles Schwab to Roll Out Spot Bitcoin and Ethereum Trading Within Weeks
Charles Schwab said it will begin a phased rollout of spot cryptocurrency trading for retail clients, with direct trading in Bitcoin and Ethereum expected to go live in the coming weeks.
The service, branded Schwab Crypto, marks the firm's formal move into spot crypto trading. Until now, Schwab's digital-asset exposure for clients has largely come through exchange-traded products, futures, options and crypto-related funds available on its platform.
Schwab said Schwab Crypto will let clients trade Bitcoin and Ethereum alongside traditional investments through Schwab.com, Schwab Mobile and thinkorswim. The launch comes as traditional finance pushes further into digital assets while crypto-native companies expand into stock trading and broader financial services.
Pricing will be 75 basis points, or 0.75%, of the dollar value of each crypto trade. Based on the firm's disclosed fee schedule, that undercuts Fidelity Crypto's 1% fee and sits within the range of other retail platforms such as Robinhood and Coinbase.
At launch, Schwab Crypto will support only Bitcoin and Ethereum, which Schwab said together represent roughly three-quarters of the total crypto market by capitalization. The firm plans to add additional cryptocurrencies over time and introduce deposit and withdrawal transfer features so clients can move digital assets onto the platform in the future.
Clients will need a separate crypto account through Charles Schwab Premier Bank, linked directly to their brokerage account. Schwab Premier Bank will act as custodian, responsible for safekeeping and recordkeeping. Schwab said Paxos, an OCC-regulated blockchain infrastructure provider, will provide sub-custody and trade execution.
Jonathan Craig, head of retail investing at Schwab, said the product is designed to give clients access to crypto within the same investing experience they already use, supported by Schwab's research, service and educational resources. Joe Vietri, Schwab's head of digital assets, said the goal is an all-in-one investing and banking experience for clients seeking crypto exposure.
Schwab's move adds to a wider shift among large financial firms that previously limited direct crypto offerings. According to the supplied material, Morgan Stanley recently launched a spot Bitcoin ETF, and Goldman Sachs filed to introduce a Bitcoin income ETF. Fidelity, one of Schwab's largest rivals, entered earlier and launched a crypto trading app in 2023 after years of activity across retirement and charitable products.
Crypto-native firms are moving in the opposite direction. Coinbase began rolling out commission-free stock trading in January, and Kraken launched stock trading this week. Schwab's entry puts it in more direct competition with both traditional brokerage peers and digital-asset platforms building multi-asset financial businesses.
Schwab said client demand has been a key driver. Executives cited in the provided materials said many clients hold most of their wealth at Schwab but keep a small portion at digital-native platforms to access crypto, and the new offering is intended to consolidate those assets within a single account ecosystem.
Beyond trading, Schwab said the rollout will include digital-asset education, market commentary and coaching resources through the Schwab Center for Financial Research and Schwab Coaching. Clients will also have 24/7 phone or chat support.
The firm pointed to a 2025 survey of 460 current and prospective crypto investors, which found that low and transparent pricing, brand reputation and asset security were among the leading factors in choosing a crypto trading platform.
Schwab shares fell about 5% on Thursday after the company reported a first-quarter revenue miss earlier in the day.
