Charles Schwab is jumping into the deep end of crypto trading, rolling out a new account called Schwab Crypto that will let eligible retail clients buy and sell bitcoin and Ethereum directly inside their existing Schwab accounts. The product is set to appear on Schwab.com, the Schwab Mobile app and the thinkorswim platform in a phased rollout the company says will begin in the coming weeks. Schwab is pitching the move as a way for customers to see and trade crypto right alongside their stocks, ETFs and other holdings in one consolidated view.
How the rollout was reported
According to the Dallas Business Journal, Schwab plans to offer the two largest cryptocurrencies directly to retail clients instead of keeping them limited to access via ETFs and futures products. The outlet linked the timing of the launch to Schwab’s recent financial results and to a broader push from legacy brokerages that are moving into direct crypto services.
What Schwab is offering
At launch, Schwab Crypto will feature direct trading in bitcoin and Ethereum, paired with education materials, research and round‑the‑clock client support. The company says its pricing will be among the lowest in the industry, set at 75 basis points on the dollar value of each trade. Schwab states that Paxos will handle sub‑custody and trade execution, while Charles Schwab Premier Bank, SSB will act as the custodian. “We know our clients want to conduct more of their financial lives at Schwab,” the firm said in its announcement, detailed by Charles Schwab.
Scale and the phased rollout
Schwab’s massive footprint is a key part of the story. The firm services millions of retail accounts and oversees a very large asset base, which suggests that a significant pool of client dollars could shift into direct crypto ownership once the product is fully live. Yahoo Finance notes that Schwab manages tens of millions of active brokerage accounts and trillions in client assets, helping explain why news of the rollout echoed quickly through the markets.
What it could mean for exchanges and fees
Market watchers say Schwab’s entry could reshape where retail crypto trading takes place and put new pressure on the fee structures of native crypto exchanges. Schwab’s 75‑basis‑point charge stands apart from the commission‑free marketing used by some rivals and could encourage liquidity providers to tighten spreads as big brokerages compete for order flow. CryptoSlate notes that the launch is part of a broader wave of large brokerages adding direct crypto access, while Robinhood and pricing guides such as NerdWallet show how retail crypto fee models differ significantly from platform to platform.
Legal and risk notes
Schwab is also emphasizing the fine print. The company warns that cryptocurrencies are highly volatile, are not insured by the FDIC and are not protected by SIPC, and it says investors should treat digital assets as speculative. The rollout will not be available in every jurisdiction at the start, and not every applicant will qualify, according to the company’s statement. Full disclosures are available from Charles Schwab.
