Charles Schwab Crypto Access: What the Brokerage Offers…
By Damilola Esebame
AI summary of the source article
Charles Schwab launched spot Bitcoin and Ethereum trading in Q2 2026, utilizing Paxos for trade execution and sub-custody while Charles Schwab Premier Bank acts as primary custodian. The service charges a flat 75 basis points per transaction, operates on a closed-loop model without external wallet transfers, and currently excludes clients in New York and Louisiana. The spot launch complements Schwab's 24/7 crypto futures trading on thinkorswim covering Bitcoin, Ether, Solana, and XRP, as well as its proprietary Schwab Crypto Thematic ETF and third-party spot ETFs. Managing $13.41 trillion across 40.1 million active accounts, Schwab is positioning crypto access as an extension of its wealth management platform and client acquisition strategy.
Why it matters
Schwab's entry brings direct cryptocurrency access to its 40.1 million accounts and $13.41 trillion in assets, intensifying retail competition with rival brokers such as Fidelity.
Key facts
- Schwab charges a flat 75 basis points per spot crypto transaction, using Paxos for execution and sub-custody.
- External wallet transfers are not supported, and clients in New York and Louisiana are currently excluded.
- Schwab added 24/7 futures trading on thinkorswim for Bitcoin, Ether, Solana, and XRP in June 2026.