Charles Schwab will begin offering spot cryptocurrency trading to eligible U.S. retail clients in the coming weeks, initially listing Bitcoin (BTC) and Ether (ETH). The service will operate through a dedicated crypto account linked to clients’ Schwab brokerage relationships and will be accessible on Schwab’s web, mobile and Thinkorswim platforms. Asset custody will be provided by Schwab’s banking unit, while trade execution will be handled via a partnership with Paxos, a federally regulated trust company.
At launch Schwab will charge 75 basis points (0.75%) per transaction for BTC and ETH trades. The firm says it plans to add additional cryptocurrencies and enable deposit and withdrawal capabilities over time. The 75-basis-point rate is higher than some crypto exchanges such as Kraken, which lists maker/taker fees beginning around 0.25%–0.40% and falling with volume, and is broadly comparable to Coinbase’s lower-volume fee brackets of roughly 0.40%–0.60% based on those platforms’ published schedules.
The rollout will be phased over several weeks and initially exclude residents of New York and Louisiana. Schwab emphasized that clients will be able to view and trade crypto alongside stocks and other holdings within its ecosystem. As of February 2026 the firm reported $12.22 trillion in total client assets, and internally estimates its clients hold roughly 20% of spot crypto exchange-traded products.
This move expands Schwab’s existing crypto-related offerings, which already include exchange-traded products, futures and funds tied to digital assets. It also reflects a broader trend of traditional financial firms increasing crypto exposure. In April, Morgan Stanley launched a spot Bitcoin ETF (MSBT) that drew $30.6 million in inflows on its first day of NYSE Arca trading and reported total net assets of $87.6 million as of that Wednesday. Goldman Sachs has filed with the U.S. Securities and Exchange Commission to launch a Bitcoin-linked ETF aimed at generating income using options strategies.
Crypto-native firms are likewise pushing into traditional markets: Coinbase added trading for equities and ETFs in December, and Kraken introduced regulated tokenized equity perpetual futures in February, offering leveraged exposure to U.S. stocks, indexes and commodities.
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