USDCharles Schwab Opens Bitcoin, Ether Trading Waitlist
Brokerage giant prepares limited Q2 crypto rollout
TL;DR
- Charles Schwab has opened a waitlist for direct bitcoin and ether trading through a new product called Schwab Crypto.
- The company is targeting a limited Q2 2026 rollout, with a broader expansion planned later.
- Launch access will be restricted, including a requirement for an existing Schwab brokerage account and no transfers from outside wallets or exchanges at launch.
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Charles Schwab has opened a waitlist for “Schwab Crypto,” a new account that will let clients buy and sell bitcoin and ether directly, with the firm still on track for a first-half 2026 launch and a limited rollout planned for the second quarter.
The product is being presented on Schwab’s crypto page under a “Schwab Crypto is coming soon” banner that invites users to sign up for updates and early access to what the company describes as “your new gateway to buy and sell Bitcoin and Ethereum cryptocurrencies.” The account will be offered by Charles Schwab Premier Bank, SSB rather than through standard brokerage accounts, and applicants will need an existing Schwab brokerage account to qualify.
A Schwab spokesperson said that the firm remains on track for a first-half 2026 launch. CEO Rick Wurster told Barron’s in early March that the offering would begin with a limited Q2 rollout, with broader expansion to follow.
The launch will not initially allow clients to transfer crypto they already hold elsewhere into Schwab. That means clients will not be able to move existing holdings from external wallets or exchanges at launch, even after Wurster told CNBC in July that clients keeping crypto at firms like Coinbase “really want to bring it back to Schwab.”
Product arrives after years of shifts in Schwab’s crypto stance
The new waitlist caps a multi-year change in Schwab’s approach to digital assets. In 2019, the firm dismissed crypto as “purely speculative.” By 2021, it was exploring white-label crypto brokerage solutions. In 2023, it helped back EDX Markets. By July 2025, Wurster said Schwab clients held more than 20% of all crypto ETPs industry-wide and said the firm was “absolutely” looking to compete with Coinbase.
Schwab’s scale gives the rollout added weight. As of February, the firm reported $12.22 trillion in client assets, 38.9 million active brokerage accounts, and record daily average trades of 9.9 million.
Wurster has also pointed to stablecoins as part of Schwab’s longer-term view of blockchain-based finance, saying they are “likely to play a role in transacting on blockchains.”
Broader brokerage and banking push around crypto
Schwab is not alone in expanding direct crypto access. Morgan Stanley is preparing to offer spot bitcoin, ether and solana trading through E*Trade via a partner model with Zerohash. Morgan Stanley has also filed for its own national trust bank charter.
EDX Markets, which Schwab backs alongside Citadel and Fidelity, applied last week for an OCC national bank charter. The parallel moves show that direct trading, custody and regulated crypto banking infrastructure are being pursued at the same time by major financial firms already active in brokerage and market structure.
FAQ
What is Schwab Crypto?
A new account for direct bitcoin and ether trading.
Who can apply for it?
Clients with an existing Schwab brokerage account.
Will outside crypto transfers be allowed at launch?
No, transfers from external wallets or exchanges will not be available.
When is the rollout expected to begin?
A limited rollout is planned for Q2 2026.
This article has been refined and enhanced by ChatGPT.
