Charles Schwab Launches Spot Crypto Trading for Retail Investors
On May 13, 2026, Charles Schwab introduced direct spot cryptocurrency trading for retail clients in the U.S., allowing transactions in bitcoin and ethereum alongside conventional investments. This service is provided through the Schwab Crypto platform, which charges a 0.75% trading fee and manages approximately $12 trillion in assets. Clients will have a dedicated crypto account that connects to their brokerage accounts, with custody handled by Charles Schwab Premier Bank and Paxos managing sub-custody and trade execution. However, this service is not available in New York and Louisiana due to licensing restrictions. CEO Rick Wurster announced this timeline following Q3 2025 earnings that surpassed expectations, with plans to broaden cryptocurrency offerings in response to industry trends and regulatory changes.
Key facts
- Charles Schwab launched spot crypto trading on May 13, 2026.
- Clients can trade bitcoin and ethereum directly.
- Fee is 0.75% per trade.
- Service available in all U.S. states except New York and Louisiana.
- Schwab manages about $12 trillion in client assets.
- CEO Rick Wurster confirmed timeline after Q3 2025 earnings.
- One-third of new retail accounts are from customers under 28.
- Paxos provides sub-custody and trade execution.
Entities
Institutions
- Charles Schwab
- Charles Schwab Premier Bank
- Paxos
- Fidelity Crypto
- Robinhood
- Coinbase
- Morgan Stanley
- Goldman Sachs
- CoinMarketCap
- NFT Plazas
Locations
- United States
- New York
- Louisiana