US$12 Trillion Giant in the US Charles Schwab Launches Spot Crypto Asset Trading

Charles Schwab has begun a phased rollout of Bitcoin spot trading features
BTCUSD
and Ethereum
ETHUSD
, thus for the first time providing direct access to cryptocurrencies for their retail brokerage clients.

This product is called Schwab Crypto and operated by Charles Schwab Premier Bank, SSB, which will be gradually launched starting in Q2 2026. The first group able to try it includes employees and early-access registrants, before the platform is eventually opened to all corporate clients.

Schwab Integrates Crypto into Its Brokerage Ecosystem

Unlike standalone crypto exchanges, Schwab integrates digital asset trading features into its existing brokerage, banking, and research infrastructure.

Clients can access cryptocurrencies alongside stocks, ETFs, and fixed-income products through a single integrated platform.

Trading fees are set at 75 basis points per transaction. Paxos provides regulated custody services, as well as execution and settlement infrastructure supporting this service.

This regulated trust company has already obtained federal banking approval from the Office of the Comptroller of the Currency.

This service will be available across all US states except New York and Louisiana, as these states have stricter crypto licensing regulations.

Clients cannot deposit BTC or ETH from external wallets, and crypto holdings are not insured by SIPC or FDIC.

How Schwab’s Presence Will Change the Retail Crypto Market

Schwab’s entry intensifies competition for retail crypto investors. The company manages approximately US$12 trillion in client assets, giving it a distribution advantage over crypto-native competitors like Robinhood and Coinbase.

Previously, Schwab only offered digital asset exposure through crypto-related stocks, futures, and spot-based exchange-traded products.

The shift to direct spot trading indicates a broader institutional adoption trend. Crypto spot exchange-traded funds (ETFs) in the US even recorded nearly US(million in net inflows on the first trading day of 2026.

Regulatory support also accelerates this momentum. In January 2025, the SEC repealed Staff Accounting Bulletin 121, removing the requirement for custodians to record client crypto assets as liabilities on their balance sheets.

OCC followed suit in March 2025, reaffirming that crypto custody services and stablecoin activities are now permitted for national banks.

The key question heading into the second half of 2026 is whether Schwab’s conservative pricing and trusted reputation can shift crypto trading volume away from platforms with lower fees and a wider selection of tokens.