Charles Schwab launches spot trading for Bitcoin and Ethereum, opening early access for retail investors to experience firsthand

American brokerage giant “Charles Schwab” announced that it has launched the cryptocurrency trading platform “Schwab Crypto” for the first batch of eligible retail clients, opening a new asset allocation channel for a wide range of investors, while also symbolizing that Wall Street’s adoption of digital assets is accelerating.
Charles Schwab stated on social platform X on Tuesday that eligible retail investors can now directly buy and sell Bitcoin and Ethereum on the platform, and also invest in other cryptocurrency-related products.
The launch of this service aligns with the company’s plan announced last month to roll out a phased cryptocurrency trading platform. Prior to this, Schwab clients could only participate indirectly in the crypto market through ETFs and derivatives.
According to a statement in April this year, this new service called “Schwab Crypto” allows clients to trade Bitcoin and Ethereum directly through dedicated crypto accounts linked to their existing securities accounts.
Charles Schwab pointed out that each transaction will incur a 75 basis point (0.75%) fee, and the crypto accounts will be provided by its banking subsidiary “Charles Schwab Premier Bank,” with Schwab acting as the asset custodian. As for trade execution and matching, it is handled by blockchain infrastructure provider Paxos.
According to the FAQ page on the official website, this cryptocurrency trading service is currently available in most regions of the United States, with New York and Louisiana temporarily excluded due to regulatory reasons; the company also specifically reminds that not all clients are eligible for crypto trading.