Schwab opens Spot Bitcoin and Ether trading for U.S. clients

Charles Schwab launched spot trading of bitcoin (BTC) and ether (ETH) for a first group of eligible U.S. retail clients on its new platform, Schwab Crypto. The firm posted the rollout on X, saying the initial wave of customers can now buy and sell the two cryptocurrencies alongside other crypto-related investment products.

Trades on Schwab Crypto are executed by blockchain infrastructure provider Paxos, while Charles Schwab Premier Bank will act as the custodian and provide custody services. Clients approved for the service will hold a separate Schwab Crypto account rather than placing crypto positions inside existing brokerage accounts.

Schwab Crypto charges 75 basis points per trade. The service is available in all U.S. states except New York and Louisiana. The company noted that not all clients will meet the platform’s eligibility criteria and that access will expand in phases to additional customers over time.

The platform extends Schwab’s offerings beyond the indirect crypto exposure it previously provided through exchange-traded funds and derivatives. The firm announced last month that it would roll out the new platform gradually to manage demand and onboarding.

At the end of March 2026, Schwab reported $11.77 trillion in client assets and 39.1 million active brokerage accounts. In the first quarter of 2026, the company posted adjusted net income of $2.6 billion and earnings per share of $1.43, a 38% increase year over year, with quarterly revenue of $6.48 billion, up 16% from the prior year.

The firm did not provide a timetable for wider availability beyond saying additional clients will gain access in later phases.