Charles Schwab will expand its nascent crypto trading service by adding Solana (SOL), Avalanche (AVAX) and Chainlink (LINK) in the coming months, broadening its direct cryptocurrency offering beyond Bitcoin and Ether.
Schwab Crypto began a phased rollout to retail clients in May, enabling direct Bitcoin and Ether trades alongside customers’ other investments via the brokerage’s website, mobile app and thinkorswim platform. The firm has said it intends to list additional digital assets over time but has not published a broader asset list or a detailed timeline beyond these three tokens.
The service charges 75 basis points (0.75%) on the dollar value of each crypto trade. Schwab Crypto accounts are available in all U.S. states except New York and Louisiana and are not currently offered in U.S. territories or to international customers. Accounts are issued through Charles Schwab Premier Bank, with related brokerage Charles Schwab & Co. handling certain operational tasks on the bank’s behalf.
The move comes as Schwab continues to broaden its product set. The firm is reported to be working with Cboe Global Markets to introduce prediction-style contracts tied to the S&P 500 that would let clients bet on whether the index will close above or below a given level. That product is expected to launch within months and would initially focus on index outcomes rather than the wider event-market offerings available on some other platforms.
Schwab’s expansion into crypto and new trading products arrives against a backdrop of substantial asset growth at the firm. As of July 31, Schwab reported $13.04 trillion in client assets across about 39.9 million active brokerage accounts and posted record second-quarter net revenue of $7.1 billion and net income of $2.8 billion.
This summary is based on Schwab’s public disclosures and reporting on the company’s service rollout and strategic plans. Readers should consult Schwab’s official communications or regulatory filings for definitive details and any future updates.