Schwab Crypto Launches Spot Trading for Retail Clients

Charles Schwab announced the launch of Schwab Crypto on April 16, 2026, a spot trading service that will begin a phased rollout to retail clients in the coming weeks, starting with direct trading in Bitcoin and Ethereum.

The brokerage giant said pricing will be 75 basis points on the dollar value of each trade. Paxos, an OCC-regulated blockchain infrastructure provider, will handle sub-custody and trade execution for the service.

Jonathan Craig, a Schwab executive, said that "clients who want direct access to the asset class can trade it alongside their other investments." Joe Vietri added that "our goal is to be the destination of choice for retail investors."

"Clients who want direct access to the asset class can trade it alongside their other investments."

— Jonathan Craig, Charles Schwab (press release)

What the Retail Rollout Means for Crypto Access

Schwab Crypto accounts will be available in all U.S. states except New York and Louisiana, and will not extend to U.S. territories or international jurisdictions. The accounts are offered through Charles Schwab Premier Bank, SSB.

The company noted that its clients already hold approximately 20% of all spot crypto exchange-traded products, signaling substantial existing demand among its user base. Schwab Crypto converts that indirect ETF exposure into direct spot access for the same client pool.

Schwab's product page confirms the service is "coming soon" and offers an early-access signup for clients looking to buy and sell Bitcoin and Ethereum through the platform. The crypto products are not securities, carry no SIPC protection or FDIC insurance, and may lose value.

Bitcoin Holds Near $74,700 as Schwab Enters the Market

Bitcoin traded at $74,754 at press time, up 0.16% over the past 24 hours, with a market cap near $1.5 trillion and daily trading volume of roughly $43.6 billion.

The Fear & Greed Index sat at 21, classified as Extreme Fear, suggesting Schwab's launch arrives during a period of broad market caution rather than speculative euphoria.

Why Schwab Crypto Stands Out in Traditional Finance

Schwab is one of the largest retail brokerages in the United States. Its decision to launch a branded spot crypto trading product, rather than limit offerings to ETF wrappers, marks a direct step into digital asset custody and execution.

The move follows a broader pattern of traditional financial institutions expanding into crypto. Firms across finance and DeFi have been building bridges between conventional markets and blockchain-based assets throughout 2025 and 2026.

Schwab's choice of Paxos as its infrastructure partner adds a regulated custody layer. Paxos operates under OCC oversight, which may provide a compliance framework that addresses concerns from past enforcement actions across the crypto industry.

No precise go-live date has been announced beyond "in the coming weeks." Schwab has not indicated whether additional assets beyond Bitcoin and Ethereum will be added after the initial launch phase.

Disclaimer: This article is for informational purposes only and does not constitute financial or investment advice. Cryptocurrency and digital asset markets carry significant risk. Always do your own research before making decisions.