Brokerage giant Charles Schwab which manages nearly $11.8 trillion has officially launched spot crypto trading for Bitcoin and Ethereum, giving selected U.S. clients direct access to the two largest cryptocurrencies through its Schwab Crypto platform.
The move marks one of Schwab’s biggest crypto expansions so far, mid growing adoption of digital assets across traditional finance.
Starting this week, selected retail clients can trade Bitcoin and Ethereum directly through Schwab.com and thinkorswim accounts instead of relying only on ETFs or crypto-related stocks.
Until now, Schwab mainly offered indirect crypto exposure through ETFs, futures products, and crypto-linked investment vehicles. The new Schwab Crypto platform operates separately from standard brokerage accounts.
According to the company announcement, blockchain infrastructure firm Paxos handles trade execution and sub-custody services, while Schwab Premier Bank serves as the primary custodian.
Schwab service is available in most U.S. states except New York and Louisiana during the early rollout phase.
According to company data, Schwab clients currently hold roughly 20% of all assets invested in U.S. spot crypto ETPs, showing that demand for digital assets already exists heavily inside its customer base.
With the launch, Schwab is now competing directly with major crypto platforms like Coinbase, Robinhood, and Fidelity Investments.
Schwab currently charges a flat 0.75% trading fee, while Fidelity Crypto charges spreads approaching 1%, Robinhood ranges between 0.35% and 0.85%, and Coinbase Advanced Trade starts around 0.6%.
Unlike Coinbase, which offers access to more than 260 cryptocurrencies, Schwab is taking a more conservative approach focused only on Bitcoin and Ethereum, the two assets that together account for nearly 75% of the total crypto market value.
Schwab currently supports only Bitcoin and Ethereum trading. Together, Bitcoin and Ethereum still account for nearly 75% of the entire crypto market capitalization.
That decision reflects how dominant the two assets remain across the broader crypto market.
Over the past year, traditional finance giants have rapidly expanded into crypto through spot Bitcoin ETFs, Ethereum ETFs, tokenized assets, stablecoin systems, and institutional custody services.
Now, major brokerage platforms are beginning to offer direct crypto trading alongside traditional investments, showing how digital assets are becoming part of mainstream finance.
Schwab already confirmed the rollout is happening gradually and may later expand into additional cryptocurrencies over time.
If adoption remains strong, other major financial institutions could accelerate similar direct crypto trading offerings to compete for institutional and retail demand.
CoinPedia has been delivering accurate and timely cryptocurrency and blockchain updates since 2017. All content is created by our expert panel of analysts and journalists, following strict Editorial Guidelines based on E-E-A-T (Experience, Expertise, Authoritativeness, Trustworthiness). Every article is fact-checked against reputable sources to ensure accuracy, transparency, and reliability. Our review policy guarantees unbiased evaluations when recommending exchanges, platforms, or tools. We strive to provide timely updates about everything crypto & blockchain, right from startups to industry majors.
All opinions and insights shared represent the author's own views on current market conditions. Please do your own research before making investment decisions. Neither the writer nor the publication assumes responsibility for your financial choices.
Sponsored content and affiliate links may appear on our site. Advertisements are marked clearly, and our editorial content remains entirely independent from our ad partners.
XRP is showing potential signs of stabilization after a prolonged price decline, with increased XRP…
Mastercard (NYSE: MA) stock is approaching its third-quarter earnings report with shares near record territory,…
Elon Musk has reportedly pledged to distribute one SpaceX share to every American child next…
JPMorgan's decision to bring JPM Coin (JPMD) to Ethereum adds another network to the bank's…
Tron has emerged as the leading blockchain by network revenue, generating $23.41 million over 30…
Bitwise’s XRP ETF has surpassed $541 million in net assets, reflecting growing investor exposure to…
