Charles Schwab, one of the largest US brokerage firms, will introduce spot trading of cryptocurrencies to retail clients in the coming weeks, starting with Bitcoin and Ether via a dedicated account connected to the brokerage platform.
According to Thursday announcementthe offering will enable customers to trade and view cryptocurrencies along with stocks and other assets on Schwab’s online, mobile and Thinkorswim platforms, with custody held by the banking entity and execution handled through a partnership with Paxos, a federally regulated trust company.
Schwab reported $12.22 trillion in customer assets as of February 2026, according to its latest data, and operates as a brokerage that provides trading, banking and wealth management services.
At launch, the service will support trading of the two largest cryptocurrencies, Bitcoin (BTC) and Ether (ETH), for a fee of 75 basis points per trade, with plans to add more cryptocurrencies and enable deposits and withdrawals over time.
At 75 basis points, or 0.75%, Schwab’s commission puts it above exchanges like Kraken, where fees start at about 0.25% to 0.40% and decrease with volume, while it is broadly in line with Coinbase, where fees start at about 0.40% to 0.60% for smaller-volume traders, according to those exchanges’ websites.
Customers will have access to the service through a separate crypto account, the assets of which will be held by Schwab’s banking subsidiary in an escrow model. The rollout will begin in phases over the coming weeks and will initially be narrow to eligible U.S. retail customers, excluding residents of Novel York and Louisiana.
Schwab said the move expands its existing cryptocurrency offerings, which include exchange-traded products, futures and funds tied to digital assets. The company said its customers currently hold approximately 20% of exchange-traded products in the spot market, based on internal estimates.
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Established financial companies are expanding their cryptocurrency offerings
Established financial firms are expanding their cryptocurrency offerings to include trading, exchange-traded funds (ETFs), and structured products.
On April 8, Morgan Stanley launched a spot Bitcoin ETF (MSBT), which recorded inflows of $30.6 million on its first day of trading on NYSE Arca, marking its entry into the market for regulated cryptocurrency investment products. As of April 15, total net assets were $87.6 million, according to the fund’s website.
Also in April, Goldman Sachs filed an application with the U.S. Securities and Exchange Commission to launch a Bitcoin-linked ETF designed to generate income through options strategies, offering indirect exposure to Bitcoin while also aiming to limit volatility.
As classic financial firms expand into cryptocurrencies, crypto companies are moving in the opposite direction, pushing into classic markets through tokenized stocks.
In December, Coinbase introduced stock and ETF trading, while in February, Kraken launched tokenized equity perpetual futures, offering leveraged exposure to US stocks, indices and commodities.
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