Charles Schwab has launched spot trading for Bitcoin and Ethereum, allowing retail clients to buy and sell the two largest cryptocurrencies by market value through its brokerage ecosystem. The rollout begins in phases this month.
The move broadens Schwab’s crypto offering beyond indirect investment products such as ETFs and derivatives. Charles Schwab is one of the largest U.S. financial services firms, offering brokerage, wealth management, and investment services to tens of millions of retail and institutional clients across the country. The company manages $12.5 trillion in total client assets.
Schwab Launches “Crypto” Platform With Phased Rollout
Charles Schwab announced the launch of its “Schwab Crypto” service, which will allow clients to execute spot trades in Bitcoin and Ethereum through a dedicated crypto account linked to their brokerage profile.
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The launch is structured as a phased rollout over the coming weeks, initially limited to Bitcoin and Ethereum.
Charles Schwab clients will hold digital assets through a dedicated “Schwab Crypto” account offered via Charles Schwab Premier Bank, linked to their existing brokerage accounts. The bank will serve as custodian of client assets, handling safekeeping and record-keeping.
Paxos, a regulated blockchain infrastructure provider, will provide sub-custody and trade execution services under a federally supervised trust framework, supporting institutional-grade settlement and digital asset operations.
Over time, Charles Schwab plans to expand the platform to support additional cryptocurrencies, alongside introducing transfer capabilities for deposits and withdrawals, enabling clients with existing digital asset holdings to move them onto Schwab and manage them alongside their broader investment portfolios.
Schwab Enters Direct Crypto Trading Segment
The launch adds spot crypto trading capability to one of the largest U.S. brokerage platforms. Until now, Schwab clients primarily accessed digital assets through indirect instruments such as ETFs and other crypto-linked products.
Spot trading availability at traditional brokerages remains limited compared to crypto-native exchanges, making Schwab’s entry into direct trading a notable expansion of its product suite.
TradFi Deepens Crypto Exposure
Charles Schwab’s rollout reflects the continued integration of cryptocurrencies into mainstream financial platforms, as brokerages expand access for retail investors seeking multi-asset portfolios.
Large U.S. financial institutions have largely limited crypto exposure to ETFs and derivatives, with direct spot trading still uncommon across traditional brokerage infrastructure. The shift highlights gradual convergence between conventional investment platforms and digital asset markets.
Major US banks Goldman Sachs and Morgan Stanley expanded client access to Bitcoin ETFs, underscoring growing institutional acceptance of regulated crypto products.
Meanwhile, the New York Stock Exchange’s parent company, Intercontinental Exchange, is
exploring and developing blockchain-based infrastructure concepts.
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“Schwab Crypto” is a dedicated service from Charles Schwab that allows clients to trade and hold Bitcoin and Ethereum through a crypto account linked to their brokerage relationship.
Clients will hold digital assets through a dedicated “Schwab Crypto” account linked to their existing brokerage accounts. The account structure is designed to separate crypto holdings from traditional securities while keeping them within the broader Schwab platform.
Future expansion plans may include transfer capabilities, allowing clients to move digital assets in and out of the platform, though timing and scope have not been specified.
