Charles Schwab launches spot BTC, ETH trading to select retail clients

Brokerage and banking firm Charles Schwab has officially rolled out its cryptocurrency trading platform, "Schwab Crypto," to a select group of retail clients. 

In a Tuesday post on X, the firm said the first wave of eligible retail investors can now trade bitcoin (BTC) and ether (ETH) directly on the platform alongside other crypto-related investment products. 

The rollout follows Charles Schwab's announcement last month that it would introduce the crypto trading platform in phases. The launch marks a major expansion from the firm's previous crypto-related offerings, which were limited to indirect exposure through exchange-traded funds and derivatives.

According to an April statement, Schwab clients will maintain a separate crypto account through Schwab Crypto. Charles Schwab Premier Bank serves as the crypto custodian, while blockchain infrastructure provider Paxos handles trade execution and sub-custody.

Schwab Crypto is set to charge a 75-basis-point fee per trade. The crypto trading service is available in all U.S. states except for New York and Louisiana, according to the platform's FAQ page. The company also noted that not all clients may qualify for crypto trading.

The Block has reached out to Charles Schwab for further information.

At the end of March 2026, Charles Schwab reported $11.77 trillion in client assets with 39.1 million active brokerage accounts, according to its quarterly report.

In the first quarter of this year, the company posted an adjusted net income of $2.6 billion and earnings per share of $1.43, up 38% year-on-year. Its Q1 revenue grew 16% year-on-year to $6.48 billion.