Charles Schwab has officially rolled out its cryptocurrency trading platform, Schwab Crypto, to a select group of retail clients. The firm announced on X that eligible investors can now trade Bitcoin (BTC) and Ethereum (ETH) directly on the platform, alongside other crypto-related investment products.
This launch follows Schwab's announcement last month to introduce the crypto trading platform in phases. Previously, Schwab clients could only gain indirect exposure to crypto through ETFs and derivatives. Now, they can hold spot BTC and ETH directly.
Schwab Crypto charges a 75-basis-point fee per trade. The service is available in all U.S. states except New York and Louisiana, and not all clients may qualify. Clients maintain a separate crypto account, with Charles Schwab Premier Bank as custodian and Paxos handling trade execution and sub-custody.
Charles Schwab reported $11.77 trillion in client assets and 39.1 million active brokerage accounts as of March 2026. In Q1 2026, the company posted adjusted net income of $2.6 billion, earnings per share of $1.43 (up 38% YoY), and revenue of $6.48 billion (up 16% YoY).
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