Schwab Expands Digital Asset Trading with Bitcoin and Ether
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In an ambitious move into the cryptocurrency market, Charles Schwab has announced plans to offer retail clients the ability to trade Bitcoin and Ether directly through a dedicated account. This step marks the brokerage’s entry into the realm of spot trading as it enhances its digital asset services.
The firm indicated that clients will have the chance to manage their cryptocurrency alongside traditional investments such as stocks and bonds, all integrated within Schwab’s existing brokerage infrastructure. Trading will be facilitated through a partnership with Paxos, a federally regulated trust company, which will handle execution and custody.
As of mid-February 2026, Charles Schwab reported managing approximately $12.22 trillion in client assets. This extensive portfolio underlines the company’s strong position in the market as a full-service brokerage that offers a range of trading, banking, and wealth management services.
The initial offering will support transactions in Bitcoin (BTC) and Ether (ETH), with a trading fee set at 75 basis points, or 0.75%. While this fee surpasses platforms like Kraken, which typically charge around 0.25% to 0.40%, it remains competitive when compared to Coinbase’s entry-level fees.
Clients will utilize a separate crypto account for these trades, with all digital assets secured under Schwab’s banking subsidiary in a custodial model. The phased rollout will begin soon, though it will initially exclude residents of New York and Louisiana.
Schwab’s latest initiative enhances its previous offerings in the cryptocurrency sector, which include exchange-traded products and futures linked to digital assets. According to internal data, Schwab clients currently own around 20% of available spot crypto exchange-traded products.
The growing interest in cryptocurrency by traditional finance institutions is notable, as they expand their services to include trading options for digital currencies and ETFs. For instance, Morgan Stanley recently introduced a spot Bitcoin ETF that saw impressive initial inflows, while Goldman Sachs has filed to launch a Bitcoin-linked ETF aimed at earning income through strategic options.
As more conventional finance firms embrace cryptocurrencies, crypto-native platforms are also seeking to broaden their reach by venturing into traditional markets through tokenized equity offerings. Coinbase and Kraken have launched products that integrate equities with cryptocurrency, illustrating a reciprocal exchange of services in these evolving financial sectors.
In summary, Charles Schwab’s foray into spot trading signals a significant shift within the investment landscape, catering to a growing appetite for cryptocurrency among retail investors and reflecting broader trends in the finance industry.
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