Charles Schwab opens direct Bitcoin and Ethereum trading to its retail clients

Charles Schwab now lets its retail clients buy and sell Bitcoin and Ethereum directly. The offering reaches a client base of 40.1 million retail investors. For years, Schwab customers who wanted crypto had to settle for indirect exposure. Now they can own the actual coins, inside the same app they use for index funds and retirement accounts. How Schwab Crypto works The service runs through a new product called the Schwab Crypto account. It launched on April 16, 2026, with a phased rollout over April and May 2026. Full availability for eligible retail clients arrived by October 15-16, 2026. Crypto transfers, meaning moving coins in or out of the account, are being added gradually rather than all at once. Clients can trade spot Bitcoin and Ethereum on Schwab.com, Schwab Mobile, and thinkorswim, the firm’s active trading platform. Pricing is a flat 0.75% fee on trades valued between $1 and $2 million. Schwab is not running the plumbing alone. Paxos handles trade execution and sub-custody, which means it executes the orders and holds the assets on Schwab’s behalf. The service also comes bundled with educational resources, research tools, and ongoing support. Who is left out, and what c...