USDCharles Schwab Starts Retail Bitcoin and Ethereum Trading
Phased Schwab Crypto rollout begins for eligible U.S. clients
TL;DR
- Charles Schwab has started rolling out direct spot Bitcoin and Ethereum trading to eligible U.S. retail clients.
- Schwab Crypto currently supports BTC and ETH, with access limited to selected clients from an interest list.
- The service uses Charles Schwab Premier Bank as custodian and Paxos for trade execution.
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Charles Schwab has begun a phased rollout of Schwab Crypto accounts, giving eligible U.S. retail clients direct access to spot Bitcoin and Ethereum trading alongside traditional investments.
The launch marks Schwab’s first direct retail crypto trading product. Before this rollout, Schwab customers could access crypto through spot Bitcoin ETFs, futures products, crypto-focused exchange-traded funds, other exchange-traded products, and crypto-related equities such as Coinbase and Strategy. Bitcoin and Ethereum are the only supported spot crypto assets at launch.
A representative for Schwab said, “Following a successful employee pilot, we began rolling out access to Schwab Crypto accounts earlier this week to a cohort of eligible retail clients who signed up on our interest list.” The representative added that Schwab “will continue rolling out access to eligible clients over the coming months.”
Schwab Crypto uses separate accounts, Paxos execution
Schwab Crypto uses a separate account structure designed to let clients trade crypto alongside their broader investment portfolios. Charles Schwab Premier Bank serves as custodian, while Paxos handles trade execution for the product.
The service currently charges a 0.75% transaction fee. It is available in every U.S. state except New York and Louisiana, though eligibility varies by client category and account type.
Schwab said on May 12 that “the first group of clients can trade Bitcoin and Ethereum at Schwab, right alongside their other investments.” The rollout follows prior comments from CEO Rick Wurster that Schwab’s spot crypto trading launch would begin with a phased rollout in the second quarter of 2026 before expanding more broadly.
Schwab’s crypto landing page says clients can now “Access crypto-related investments in the same place you manage the rest of your portfolio.” The language positions Schwab Crypto as part of a unified investing experience rather than a standalone crypto exchange model.
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Schwab expands after limiting clients to indirect crypto exposure
The rollout follows Schwab’s earlier position that spot crypto trading would depend on improved regulatory clarity. The firm is now moving deeper into digital assets after previously limiting customers to indirect crypto exposure.
As of March 2026, Charles Schwab managed about $11.77 trillion in client assets across more than 39 million active brokerage accounts. The firm also reported first-quarter net profit rising 38% year over year to $2.6 billion, while quarterly revenue increased 16% to $6.48 billion.
Wurster has indicated that Schwab may eventually expand its crypto-related product set beyond Bitcoin and Ethereum. He said last year that stablecoin exposure is “something we do want to be able to offer.”
Wurster also told investors in April that Schwab is likely to enter prediction markets at some point. “At some point, we will likely have prediction markets,” he said, while indicating the firm is not rushing and would likely focus on financial outcomes rather than sports, pop culture, or elections.
Schwab has not launched broad open access for all users. The final confirmed status is a phased retail rollout after an employee pilot, with access currently limited to eligible clients from an interest list and broader access planned over the coming months.
FAQ
Who can use Schwab Crypto now?
Eligible retail clients selected from Schwab’s interest list.
Which cryptocurrencies are supported?
Bitcoin and Ethereum are the only spot crypto assets supported at launch.
Who executes Schwab Crypto trades?
Paxos handles trade execution for Schwab Crypto.
Is Schwab Crypto available nationwide?
No. It is unavailable in New York and Louisiana.
This article has been refined and enhanced by ChatGPT.
