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Schwab launches spot cryptocurrency trading service, with a fee rate of 75bps, supporting BTC and ETH.
Wu Shuo learns that the U.S. brokerage firm Charles Schwab has announced the launch of a spot cryptocurrency trading service, Schwab Crypto, which will be phased in for retail clients over the coming weeks. Initially, it will support direct trading of Bitcoin and Ethereum, with a trading fee of approximately 75 basis points per transaction; users can view and manage both crypto assets and traditional portfolios on the same platform. The related assets are custodied by Schwab Premier Bank, with blockchain infrastructure and execution provided by Paxos. Future plans include supporting more crypto assets and deposit-withdrawal functions.
ETF analyst Eric Balchunas pointed out that compared to most crypto exchanges, this solution is more user-friendly for beginners, but it still remains higher than ETFs with a purchase cost of about 2 basis points. However, ETFs require ongoing management fees, while holding directly does not incur annual fees. Therefore, if you buy once and plan to hold for more than five years, direct holding is cheaper; otherwise, ETFs have a cost advantage.