Charles Schwab To Offer Direct Bitcoin, Ethereum Trading With ‘Schwab Crypto’ Account

bitcoinistPublished on 2026-04-03Last updated on 2026-04-03

Abstract

Charles Schwab is preparing to launch "Schwab Crypto," a new service that will allow eligible clients to buy and sell Bitcoin and Ethereum directly through its platform. The offering will be rolled out in phases, starting with internal testing, then a small group of customers, before a broader release. It will not be available in New York or Louisiana, and not all applicants will qualify. The firm has not yet announced a specific launch date or final fee structure. This move marks Schwab's entry into direct cryptocurrency trading, whereas it previously only offered crypto exposure through products like ETFs, futures, and equities.

Charles Schwab is preparing to offer clients direct access to cryptocurrencies, joining a growing group of traditional financial institutions that have moved into digital-asset services.

The firm plans to roll out “Schwab Crypto” through its Premier Bank platform, enabling eligible customers to buy and sell Bitcoin (BTC) and Ethereum (ETH) directly, according to disclosures on the company’s website.

Charles Schwab’s New Crypto Service

Charles Schwab’s announcement makes clear that the new offering will not be open to everyone. The firm says not all applicants will qualify, and accounts will be available in every US state except New York and Louisiana.

Company leadership has signaled a cautious, phased approach to the launch. CEO Rick Wurster told investors last month that Schwab will initially support only Bitcoin and Ethereum and is “extremely confident” in the technical work required to integrate crypto trading into its systems.

Charles Schwab’s CEO also described a staged rollout: the exchange will first test the platform internally with employees, then open access to a limited group of customers, and only after that offer the service broadly to its investor base.

Launch Date And Fees Still Unknown

Until now, Charles Schwab investors seeking crypto exposure have had to rely on alternative products available through the broker. The firm already provides access to crypto exchange-traded products (ETPs), crypto-related equities, Bitcoin futures, and listed options tied to spot Bitcoin ETPs.

Schwab Crypto would, if launched as described, mark a move into direct custody-and-trading services for the two largest digital assets. A few details remain unsettled. Schwab has not yet disclosed the exact launch date or the final fee structure for Schwab Crypto.

Those decisions could be influenced by recent market conditions: falling prices in the cryptocurrency market may prompt the firm to delay its public rollout until conditions stabilize or until its testing phases are complete.

The daily chart shows BTC’s price retrace to $66,000 on Friday. Source: BTCUSDT on TradingView.com

Featured image from OpenArt, chart from TradingView.com

Related Questions

QWhat is the name of the new cryptocurrency service being offered by Charles Schwab?

ASchwab Crypto

QWhich two cryptocurrencies will Charles Schwab initially support for direct trading?

ABitcoin (BTC) and Ethereum (ETH)

QWhich two US states will NOT have access to the Schwab Crypto accounts?

ANew York and Louisiana

QWhat is the CEO's described approach for rolling out the new crypto service?

AA staged rollout: first testing internally with employees, then opening access to a limited group of customers, and finally offering the service broadly to its investor base.

QWhat existing crypto-related investment products does Charles Schwab already offer to its clients?

ACrypto exchange-traded products (ETPs), crypto-related equities, Bitcoin futures, and listed options tied to spot Bitcoin ETPs.

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363 Total ViewsPublished 2025.05.13Updated 2025.05.13

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