Charles Schwab to Offer Spot BTC and ETH Trading to U.S. Retail

Charles Schwab will offer spot Bitcoin and Ether trading to eligible U.S. retail clients in the coming weeks through a dedicated crypto account, the firm announced. Custody will be provided by Schwab’s banking unit, trade execution handled by Paxos, and the transaction fee will be 75 basis points (0.75%).

Clients will be able to view and trade Bitcoin and Ether on Schwab’s web, mobile and Thinkorswim platforms alongside stocks and other assets. The service requires a separate crypto account tied to an existing brokerage relationship; assets in those accounts will be held under a custodial model by Schwab Bank. Paxos, a federally regulated trust company, will perform order execution.

The rollout will occur in phases over the coming weeks and initially will be limited to eligible U.S. retail clients outside New York and Louisiana. Schwab plans to add more cryptocurrencies and to enable direct deposits and withdrawals to the dedicated crypto accounts over time.

At 75 basis points per transaction, Schwab’s fee is higher than starting fees on some crypto exchanges, which begin around 0.25% to 0.40% and decline with volume, and broadly comparable to entry-level fees at other major platforms, which start around 0.40% to 0.60% for lower-volume traders, according to exchange fee schedules.

Schwab reported $12.22 trillion in total client assets as of February 2026. The firm already offers exchange-traded products, futures and funds tied to digital assets and estimates its clients hold roughly 20% of spot crypto exchange-traded products. The new spot trading feature will sit alongside Schwab’s existing brokerage, banking and wealth management services.

Paxos, the execution partner, is regulated as a federal trust company and has been used by other financial firms for crypto services. Schwab’s decision to place custody with its banking unit means client crypto holdings will be held by the bank rather than left on a third-party exchange.

The launch follows broader activity in traditional finance around crypto. A large investment bank launched a spot Bitcoin ETF in April that recorded $30.6 million in inflows on its first trading day and held $87.6 million in net assets a week later. Another major bank has filed with the Securities and Exchange Commission to launch a Bitcoin-linked ETF that would seek to generate income using options strategies. Crypto-native firms have expanded into traditional markets: one major crypto platform added equity and ETF trading in December, and another introduced tokenized equity perpetual futures offering leveraged exposure to U.S. stocks and indexes in February.

Schwab’s initial eligibility limits and phased rollout mean the service will not be immediately available to all retail clients. The firm indicated the product line and account functionality will expand after the initial launch.