Schwab Rolls Out Bitcoin and Ethereum Trading Across 48 U.S. States
AI Market Summary
Charles Schwab's rollout of direct Bitcoin and Ethereum trading to ~40 million brokerage accounts across 48 U.S. states materially expands mainstream distribution and simplifies portfolio integration for retail investors. Partnering with Paxos and pricing at a 0.75% fee strengthens on-platform access and competition with crypto-native venues. While Schwab emphasizes risk disclosures, the launch is a supportive near-term catalyst for spot liquidity and participation in BTC and ETH.
Impact level
● High
Affected assets
BTC/USDT-1.30%
AI Insight · BTC/USDTAI Insight
▲ Bullish
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ChainCatcher reports that financial heavyweight Charles Schwab has introduced direct Bitcoin and Ethereum trading for roughly 40 million brokerage accounts. The new offering, branded as Schwab Crypto, is available in 48 U.S. states, excluding New York and Louisiana. Trades carry a 0.75% fee, and the service is operated by Charles Schwab Premier Bank in partnership with Paxos.
Joe Vietri, Schwab's Head of Digital Assets, said the firm is positioning itself as a go-to destination for retail investors looking to add digital assets to their portfolios. He highlighted Schwab's service capabilities, investor education, and research, and noted that clients can trade crypto alongside other investment products on the same platform.
Schwab also reiterated risk disclosures, warning that even a 1% to 3% allocation to Bitcoin or Ethereum can materially affect a portfolio, given both assets have fallen more than 70% in prior market cycles.
