Charles Schwab has launched direct Bitcoin and Ethereum trading for retail clients through new Schwab Crypto accounts. The service launched Tuesday for most U.S. residents, excluding New York and Louisiana. The rollout introduces crypto trading alongside traditional investments on Schwab’s platform, with a 75-basis-point trading fee.
The brokerage giant Charles Schwab has begun rolling out its new Schwab Crypto accounts to retail clients. Starting Tuesday, eligible users can trade Bitcoin and Ethereum directly alongside traditional investments on the platform.
The offering is available to most U.S. residents, with key exclusions. Residents of New York, Louisiana, and U.S. territories cannot currently access the service, which is also unavailable internationally.
To open a Schwab Crypto account, users must already have an eligible brokerage account with the firm. Supported account types include individual and joint brokerage accounts.
Schwab Premier Bank will serve as the custodian for the new offering. Trade execution and sub-custody services will be managed by Paxos.
The company plans to charge a 75-basis-point trading fee for crypto transactions. The launch follows Schwab’s recent introduction of a dedicated crypto-focused webpage under the same branding.
Founded in 1971, Charles Schwab manages approximately $12 trillion in assets. Despite this major traditional finance expansion, Bitcoin’s price remained near $80,000 and Ethereum traded around $2,300.
The company recently posted strong first-quarter results for 2026. It reported a net income of $2.5 billion and quarterly revenue of $6.48 billion, which was up 16% year-over-year.
Client assets reached a record $11.77 trillion by the end of March. The firm also recorded $140 billion in core net new assets and opened 1.3 million new brokerage accounts during the quarter.
