Charles Schwab starts spot Bitcoin, Ethereum trading

Charles Schwab began a phased rollout of Schwab Crypto accounts earlier this week, enabling eligible U.S. retail clients to trade spot Bitcoin and Ethereum alongside their existing brokerage holdings.

Initial access was granted to a group of clients who signed an interest list after an employee pilot, and the firm confirmed it will expand access to eligible clients over the coming months as the rollout continues.

Schwab Crypto accounts allow clients to buy and sell spot BTC and ETH within the same account where they hold stocks, bonds and mutual funds. Until now the brokerage offered crypto exposure only through exchange-traded products and crypto-related equities rather than direct ownership of coins.

CEO Rick Wurster had said the firm would begin a phased rollout in the second quarter. He has also discussed future product options, telling investors last year that “that’s something we do want to be able to offer” in reference to stablecoins. During a recent earnings call he added, “At some point, we will likely have prediction markets.” He described those markets as likely to focus on financial outcomes.

Schwab said the decision to offer spot trading followed internal testing and a staged plan tied to regulatory clarity. The firm has not provided a firm timetable for when all retail clients on the interest list will gain access.

Charles Schwab Corporation manages about $11.8 trillion in total client assets. The company’s shares rose roughly 1% on the announcement. Bitcoin and Ethereum were each modestly lower on the day compared with the prior session.