Charles Schwab is gradually enabling external wallet transfers for eligible clients holding Bitcoin and Ether, expanding its crypto service beyond exposure inside investment accounts. The brokerage said qualified users can move the two assets into and out of external wallets as the feature is introduced in phases. Schwab also made clear that Bitcoin and Ether held through its service do not receive Federal Deposit Insurance Corporation, or FDIC, protection, and that the crypto assets are not insured traditional bank deposits. The company added that the rollout will proceed step by step and said it has discussed broadening supported assets beyond BTC and ETH. The update points to a wider crypto offering at Schwab, while keeping the firm’s disclosure on insurance treatment explicit for clients using the service.
Charles Schwab is gradually opening external wallet transfers for eligible clients holding Bitcoin and Ether, allowing the assets to be moved into and out of external wallets.
The service now goes beyond offering market exposure only within investment accounts.
Schwab said Bitcoin and Ether do not receive FDIC insurance when held through its service, and the crypto assets are not insured traditional bank deposits.
The rollout will continue in stages. The company also said it has discussed expanding supported assets beyond Bitcoin and Ether.
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