Charles Schwab opens crypto to all clients, plans to add three new coins by year-end

Charles Schwab now lets its retail clients buy and sell Bitcoin and Ethereum directly. The offering reaches a client base of 40.1 million retail investors.

For years, Schwab customers who wanted crypto had to settle for indirect exposure. Now they can own the actual coins, inside the same app they use for index funds and retirement accounts.

How Schwab Crypto works

The service runs through a new product called the Schwab Crypto account. It launched on April 16, 2026, with a phased rollout over April and May 2026.

Full availability for eligible retail clients arrived by October 15-16, 2026. Crypto transfers, meaning moving coins in or out of the account, are being added gradually rather than all at once.

Clients can trade spot Bitcoin and Ethereum on Schwab.com, Schwab Mobile, and thinkorswim, the firm’s active trading platform.

Pricing is a flat 0.75% fee on trades valued between $1 and $2 million.

Schwab is not running the plumbing alone. Paxos handles trade execution and sub-custody, which means it executes the orders and holds the assets on Schwab’s behalf.

The service also comes bundled with educational resources, research tools, and ongoing support.

Who is left out, and what comes next

Not everyone gets access. The service excludes New York and Louisiana, along with certain client categories.

The coin list is also short, at least for the moment. Schwab plans to add trading for Solana, Avalanche, and Chainlink by the end of 2026.

Chief executive Rick Wurster has framed the business in plainly commercial terms. He identified crypto trading as a new source of transaction-based revenue for the firm.

Why the scale matters

Schwab is one of the largest brokerages in the US by any measure. The firm manages approximately 40.3 million active brokerage accounts, holding $13.33 trillion in client assets.

Schwab is not first to this party. Competitors including Fidelity and E*TRADE have pursued similar direct crypto strategies, and Schwab’s move follows growing regulatory clarity and a market that increasingly favors direct trading.

What this means for investors and the market

The geographic exclusions will cap adoption in the short term. Until New York and Louisiana clients are included, a meaningful group of potential users remains locked out.

The next markers to track are the planned additions of Solana, Avalanche, and Chainlink, and whether Schwab delivers them by the end of 2026.