Schwab Enters Crypto Market with Bitcoin and Ethereum Trading

Charles Schwab, a leading US-based financial services company, has taken its first step into the world of cryptocurrency trading. The firm has launched its crypto trading platform, which will initially offer spot trading in Bitcoin and Ethereum. This move is seen as a significant development in the growing trend of traditional financial institutions offering direct access to cryptocurrencies.

The rollout of the Schwab Crypto platform will be gradual, starting with an internal employee pilot and client waitlist before opening more broadly in Q2 2026. Customers based in New York and Louisiana will not have immediate access to the platform due to regulatory reasons. However, once fully operational, the potential reach is staggering, with Schwab managing close to $1.5 trillion in assets and serving over 46 million active brokerage clients.

One of the key differentiators for Schwab's crypto trading platform is its pricing strategy. The firm has set a trading fee of 0.75%, which is lower than its closest rival, Fidelity Crypto's 1% rate. This could be an attractive option for investors who are looking for a cost-effective way to trade cryptocurrencies.