Schwab Launches Spot Bitcoin, Ethereum Trading

Charles Schwab, the brokerage managing about 12 trillion dollars in client assets, launched spot trading of Bitcoin and Ethereum for an initial group of U.S. retail clients on May 13, 2026. The service, available through the new Schwab Crypto platform, allows investors to buy and sell the two largest cryptocurrencies alongside stocks, ETFs and retirement accounts in a single interface.

The rollout is phased, with the first wave of eligible clients gaining access this week. Powered by Paxos, which holds OCC-regulated national trust status, and integrated with Schwab Premier Bank, the platform charges a 0.75 percent trading fee. Certain states, including New York and Louisiana, are excluded due to licensing requirements. Previously, Schwab offered indirect crypto exposure via exchange-traded funds and futures contracts.

Schwab, headquartered in Westlake, Texas, and serving roughly 35 million clients worldwide, had signaled plans for direct spot trading in the first half of 2026. CEO Rick Wurster confirmed the timeline last month, following earlier statements about introducing crypto trading in the near future.

The move positions Schwab competitively against rivals like Fidelity,...