Charles Schwab Expands Crypto Offerings with Launch of Spot Trading Platform

Charles Schwab, a leading brokerage firm, has rolled out its spot crypto trading platform to retail investors in the US. The platform, called Schwab Crypto, enables clients to trade Bitcoin (BTC) and Ethereum (ETH) directly on their accounts.

The launch of Schwab Crypto marks a major expansion from the company's previous digital asset offerings, which included indirect exposure through various financial instruments such as exchange-traded products (ETPs), futures, options, and mutual funds. With this new platform, clients can now access spot crypto trading with lower fees compared to other providers.

The platform is available in all US states except New York and Louisiana, and charges a 75-basis-point fee on the dollar value of each trade. This move follows the trend of traditional financial institutions expanding their digital asset offerings to cater to growing demand from retail investors.