Nearly 40 million active users! Charles Schwab offers Bitcoin and Ethereum spot trading for retail investors to try first.

Charles Schwab Launches Crypto Platform, Allowing Retail Investors to Directly Buy and Sell Bitcoin and Ethereum. Each transaction incurs a fee of 0.75%, marking Wall Street giants’ accelerated embrace of digital asset allocation.

U.S. brokerage giant “Charles Schwab” announced the launch of its cryptocurrency trading platform “Schwab Crypto” for the first eligible retail clients, opening a new asset allocation channel for investors and symbolizing the ongoing acceleration of Wall Street’s adoption of digital assets.

On Tuesday, Schwab stated on social platform X that the first eligible retail investors can now directly buy and sell Bitcoin and Ethereum on the platform, as well as invest in other crypto-related products.

The launch of this service aligns with the company’s announcement 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.

Schwab noted that each transaction will incur a fee of 75 basis points (0.75%), and the crypto accounts will be provided by its banking subsidiary “Charles Schwab Premier Bank,” with Schwab acting as the asset custodian. The execution and matching of trades will be 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 reminds that not all clients are eligible for crypto trading.

As of the end of March this year, Schwab’s client assets totaled $11.77 trillion, with 39.1 million active securities accounts. In the first quarter, the company’s adjusted net income was $2.6 billion, with earnings per share of $1.43, up 38% year-over-year. First-quarter revenue increased by 16% to $6.48 billion.

• This article is reprinted with permission from “Block Talk”
• Original title: “Charles Schwab Launches Bitcoin and Ethereum Spot Trading, Opens Early Access for Retail Investors”
• Original author: Block Sister MEL