Charles Schwab has started rolling out spot trading for Bitcoin and Ether to an initial group of retail customers, expanding direct crypto access on one of the largest brokerage platforms in the United States.
“Schwab Crypto accounts are now being rolled out to retail clients,” the company said Tuesday in a post on X. “Starting today, the first group of clients can trade Bitcoin and Ethereum at Schwab, right alongside their other investments.”
The brokerage giant, which oversees more than $11 trillion in client assets and serves tens of millions of retail investors, first revealed plans in April to introduce spot crypto trading.
Under the rollout, Schwab clients will be able to trade and monitor crypto assets alongside stocks and other investments through the company’s web platform, mobile app, and Thinkorswim trading platform. Custody services will be handled by Schwab’s banking division, while trade execution will be powered by Paxos.
The new crypto trading service from Charles Schwab will charge a 75-basis-point fee per transaction and, at launch, will not be available to residents of New York or Louisiana. The rollout adds to Schwab’s existing digital asset offerings, which already include crypto ETFs, futures, and digital asset investment funds.
According to Chinese-language crypto news account HashNews on X, Schwab’s move could help push crypto further into mainstream investing by integrating digital assets directly into traditional brokerage accounts used by millions of retail investors.
The account noted that for investors using 401(k) plans and standard brokerage accounts, purchasing Bitcoin could become as simple as buying shares of Apple. That ease of access may reduce reliance on dedicated crypto exchanges or indirect investment products such as those offered by Grayscale and various crypto ETFs.
“This isn’t a trading call,” HashNews wrote. “It’s a signal at the infrastructure level: Crypto assets are shifting from ‘alternative investments’ to ‘standard allocations.’”
The launch follows a strong quarter for Schwab. Last month, the company reported record first-quarter net income of $2.5 billion, or $1.37 per diluted share, representing a 30% increase year over year. Total net revenue rose 16% to $6.5 billion.
Adjusted earnings per share reached $1.43, up 38% from the prior year, while total client assets climbed 19% to $11.77 trillion across 39.1 million active brokerage accounts.
