Charles Schwab Steps into Crypto with Competitive Trading Fees
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In a significant move within the cryptocurrency landscape, Charles Schwab has launched its own crypto trading platform, aiming to attract a substantial portion of the market with lower fees than its competitors.
The Texas-based brokerage has initiated Bitcoin and Ethereum trading via its Schwab Crypto platform. However, access will be gradually granted, starting with a pilot program for employees, then moving to a client waitlist before a broader rollout anticipated by the end of Q2 2026. It’s worth noting that customers located in New York and Louisiana will not have immediate access to these offerings.
What sets Schwab apart is its vast customer base, which includes nearly 46 million active brokerage clients and asset management of approximately $1.50 trillion. The extensive reach of Schwab positions it uniquely compared to other brokerages entering the crypto space.
Schwab has set its trading fee at 0.75%, strategically undercutting Fidelity Crypto’s rate of 1%. This pricing strategy could potentially attract customers from established platforms, although it remains uncertain whether this will significantly impact customer migration.
Despite Schwab’s entry into the market, it will not face an empty field. Robinhood, which has established itself in cryptocurrency trading for some time, continues to be a strong competitor. It offers more than 15 digital currencies, operates in various international markets, and allows users the flexibility to transfer their crypto to external wallets. For the moment, Schwab is limiting its offerings to Bitcoin and Ethereum, but plans are underway to expand its cryptocurrency range and incorporate AI tools to better cater to investor demand.
On the same day Schwab announced its new trading platform, the company released its first-quarter financial results for 2026. The firm saw a 16% year-over-year increase in net revenue, reaching $6.48 billion, although it fell slightly short of analyst expectations. The news resulted in a drop in Schwab’s stock, with shares declining by 7.70% on that day.
Meanwhile, market movements saw Bitcoin soar to $75,000, buoyed by optimistic inflows into spot ETFs and positive sentiment regarding a potential ceasefire between the US and Iran. In contrast, Ethereum experienced a downturn, decreasing by 0.75% to $2,355 after a significant holder liquidated around 120,000 ETH, amounting to nearly $60 million.
The introduction of Schwab into cryptocurrency trading marks an important step in integrating digital assets into mainstream investing, showcasing how traditional financial institutions are increasingly embracing cryptocurrencies like Bitcoin and Ethereum.
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