Charles Schwab has switched on Bitcoin and Ether trading for clients across its brokerage platform. The firm oversees about $13 trillion in assets, making it one of the largest wealth management companies in the United States. The new feature is reported to reach roughly 40 million client accounts.
Trades on the new service carry a fee of 0.75% per transaction, according to reporting on the launch. That pricing places Schwab's crypto offering within the range charged by other regulated financial platforms that have added digital asset trading in recent years.
Schwab has long offered clients indirect exposure to crypto through vehicles such as futures-linked products and spot Bitcoin exchange-traded funds. Direct trading of Bitcoin and Ether marks a shift toward letting clients hold and trade the underlying assets themselves, rather than through a wrapper.
The addition arrives as major US brokerages and banks continue expanding into digital assets. Interest from traditional finance has grown alongside the approval of spot Bitcoin and Ether ETFs, and clearer signals from US regulators on how crypto products can be offered to retail investors.
For Schwab, adding crypto trading directly to its existing account infrastructure could reduce friction for clients who previously needed separate exchange accounts to buy Bitcoin or Ether. Consolidating crypto and traditional securities on one platform may also simplify tax reporting and portfolio tracking for those clients.
The scale of Schwab's client base is notable. With tens of millions of existing brokerage and retirement accounts, even modest adoption of the new crypto feature could translate into meaningful trading volume. That scale is part of why the launch has drawn attention from both the crypto industry and traditional finance observers.
Schwab's move follows a broader pattern among established financial institutions weighing whether to offer crypto trading in-house. Some banks and brokerages have taken a cautious approach, citing custody, regulatory, and reputational considerations. Others have moved to add crypto access as competitors and fintech platforms have already done so for years.
Details on custody arrangements, supported order types, and whether additional tokens will be added later were not specified in available reporting. It also remains unclear whether the 0.75% fee applies uniformly across account types or varies by trade size.
The launch adds Schwab to a growing list of legacy financial firms offering direct crypto trading to retail clients, following years of more limited, ETF-based exposure. It underscores how digital assets have moved from a niche offering to a mainstream feature expected by many brokerage customers.
Market Impact
The addition of direct Bitcoin and Ether trading at a brokerage with roughly $13 trillion in client assets could expand the pool of retail investors with easy access to spot crypto markets. If even a small share of Schwab's 40 million accounts begin trading, the added order flow could contribute incremental demand for both assets.
The move may also pressure other large brokerages and banks to accelerate their own crypto plans, particularly those still limited to ETF-based exposure. Fee structures, including Schwab's reported 0.75% rate, will likely be compared against other platforms as investors weigh where to trade. Broader adoption by traditional finance firms is often cited as a factor supporting long-term institutional interest in crypto markets, though actual trading volumes and client uptake at Schwab remain to be seen.
Schwab's rollout of direct Bitcoin and Ether trading marks another step in the integration of crypto into mainstream brokerage services. Its impact on trading volumes and client behavior will become clearer as adoption data emerges.
Frequently Asked Questions
What exactly did Charles Schwab add to its platform?
Schwab enabled direct trading of Bitcoin and Ether for clients across its brokerage platform, according to reporting on the launch.
How many Schwab accounts can access the new crypto trading feature?
Reports indicate the feature is available to roughly 40 million client accounts on Schwab's platform.
What fee does Schwab charge for crypto trades?
Reporting describes a 0.75% fee per crypto trade under the new offering.
Did Schwab offer crypto exposure before this launch?
Schwab previously offered indirect crypto exposure through products such as futures-linked instruments and spot Bitcoin ETFs, but this update adds direct trading of the underlying assets.