Schwab Launches Retail Crypto Accounts With Bitcoin And Ethereum

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American multinational financial services company Charles Schwab has begun rolling out Schwab Crypto accounts to retail clients, which gives users direct access to Bitcoin (BTC) and Ethereum (ETH) trading for the first time. The launch marks a major shift for the brokerage giant previously limited crypto exposure to ETFs, futures, and crypto-related stocks. The move places one of America’s largest financial firms deeper into the digital asset market as traditional brokerages race to meet rising retail demand.

Schwab Expands Beyond Crypto ETFs

Indeed, the $11.8 trillion brokerage with 39 million accounts confirmed on May 12 that the first group of eligible retail clients can now buy and sell Bitcoin and Ethereum directly through Schwab Crypto accounts.

According to Schwab, clients will trade crypto alongside traditional investments through a separate account structure. Charles Schwab Premier Bank will serve as custodian, and crypto infrastructure firm Paxos will handle trade execution. As the company said in its announcement:

“Starting today, the first group of clients can trade Bitcoin and Ethereum at Schwab, right alongside their other investments.”

The rollout follows months of speculation that Schwab would move beyond indirect crypto products. Until now, the company primarily offered access through spot Bitcoin ETFs, futures products, crypto-focused exchange-traded funds, and shares of companies tied to the industry such as Coinbase and Strategy.

The direct trading service currently carries a 0.75% transaction fee and is available in every U.S. state except New York and Louisiana. Schwab also noted that eligibility will vary depending on client category and account type.

Wall Street Firms Keep Expanding Crypto Access

Schwab’s entry into direct crypto trading adds another major traditional finance player to the growing list of firms integrating digital assets into brokerage platforms.

As of March 2026, Charles Schwab managed about $11.77 trillion in client assets across more than 39 million active brokerage accounts, making it one of the largest financial institutions in the United States. As the company said on its crypto landing page, its clients can now:

“Access crypto-related investments in the same place you manage the rest of your portfolio.”

The company’s expansion into spot crypto trading comes as institutional adoption continues accelerating following the success of U.S. Bitcoin ETFs and broader regulatory momentum around digital assets.

Schwab also reported strong financial growth earlier this year. First-quarter net profit climbed 38% year-over-year to $2.6 billion, and quarterly revenue increased 16% to $6.48 billion.

The gradual rollout suggests Schwab is taking a measured approach, but the launch still represents another sign that direct Bitcoin access is steadily moving deeper into mainstream finance.

The post Schwab Launches Retail Crypto Accounts With Bitcoin And Ethereum appeared first on TechGaged.com.