Bitcoin and Ethereum Arrive on Wall Street Giant Charles Schwab for Selected Retail Clients
Charles Schwab has started rolling out its new Schwab Crypto accounts to retail clients, allowing users to trade Bitcoin and Ethereum directly through the platform alongside traditional investments, starting Tuesday.
The offering is currently available to most residents in the United States, although residents of New York, Louisiana, and US territories are excluded at this stage. Schwab Crypto accounts are also not yet available to international users.
Schwab Crypto Rollout
According to the announcement, the first group of eligible clients can begin accessing crypto trading. To open a Schwab Crypto account, users must already have an eligible brokerage account with the company. Supported account types include individual and joint brokerage accounts, while additional requirements such as jurisdiction-based eligibility also apply.
Schwab Premier Bank serves as the custodian for the latest offering, while Paxos will manage trade execution and sub-custody services. As per the FAQs page, Schwab Crypto plans to charge a 75-basis-point trading fee.
The rollout comes as the brokerage and banking firm continues expanding its presence in the crypto market. Last month, Charles Schwab introduced a dedicated crypto-focused page on its website under the “Schwab Crypto” branding, in a bid to expand its offerings for retail investors seeking direct exposure to digital assets.
Founded in 1971, Charles Schwab manages roughly $12 trillion in assets and is considered one of the largest banking and financial services organizations in the United States. But despite the major TradFi expansion into crypto, there have been no visible changes in the price of the two top assets as Bitcoin remained near $80,000, while Ethereum traded around $2,300.
Schwab 1Q Results
Charles Schwab posted a net income of $2.5 billion in the first quarter of 2026. After excluding certain transaction-related expenses, adjusted profit rose to $2.6 billion, while adjusted earnings per share increased 38% year-over-year to $1.43.
Meanwhile, quarterly revenue was up 16% to $6.48 billion. Client assets reached $11.77 trillion by the end of March, up 19% from a year earlier. Additionally, the company recorded $140 billion in core net new assets during the quarter and opened 1.3 million new brokerage accounts, which pushed total client accounts to 47.2 million.
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