Charles Schwab is moving deeper into digital assets with the rollout of Schwab Crypto, a new offering that will allow retail brokerage clients in the United States to trade spot bitcoin and ethereum. The company said the launch will begin in phases over the coming weeks, giving clients access to crypto trading within the broader Schwab ecosystem they already use for stocks, bonds, and other traditional investments. Schwab is pricing the service at 75 basis points per trade, positioning the offering as one of the lower-cost direct crypto trading options among major brokerage firms.
A brokerage-led approach to crypto access
The significance of the launch lies not only in the addition of bitcoin and ether trading, but in how Schwab is packaging that access. Rather than asking clients to move to a separate crypto-native exchange, the company is integrating digital assets into its existing investment environment. Clients will use a separate crypto account linked to their current brokerage relationship, enabling them to view crypto positions alongside more conventional holdings as part of a wider portfolio strategy.
Jonathan Craig, Head of Retail Investing at Charles Schwab, said the company’s clients have made it clear that they want to conduct more of their financial activity in one place. Schwab’s new crypto platform is meant to answer that demand by making digital assets available within the same trusted framework clients already use for investing. For a traditional brokerage serving millions of Americans, that framing matters: the company is not presenting crypto as a standalone speculative product, but as another component of diversified portfolio management.
Bitcoin and ethereum come first
At launch, Schwab Crypto will support only bitcoin and ethereum, the two largest cryptocurrencies by market relevance. According to the company, those assets together account for roughly three-quarters of the total crypto market capitalization. By beginning with the two most established digital assets, Schwab appears to be emphasizing familiarity, liquidity, and client comfort over a rapid expansion into a broader token universe.
This measured approach is consistent with how large financial institutions typically enter new markets. Instead of offering a long list of coins from day one, Schwab is starting with the assets most likely to satisfy mainstream demand while keeping operational and regulatory complexity under tighter control. That may be especially appealing to clients who are interested in crypto exposure but prefer to access it through a firm they already know rather than a specialized exchange.
Paxos to provide sub-custody and execution
For the infrastructure behind the new platform, Schwab has partnered with Paxos, an OCC-regulated blockchain infrastructure provider. Paxos will handle sub-custody and trade execution for Schwab Crypto. Joe Vietri, Head of Digital Assets at Charles Schwab, said Paxos was selected because of its regulatory standing and expertise in digital assets, underscoring Schwab’s focus on compliance and operational reliability as it scales the service.
The custody arrangement is also notable. Schwab said the crypto account will be offered through Charles Schwab Premier Bank, SSB, which will serve as custodian for clients’ digital assets. Together, the structure reflects a model in which a familiar financial brand remains the client-facing institution while relying on specialized digital asset partners for key execution and support functions.
Trading access will be available across Schwab.com, the Schwab Mobile app, and thinkorswim, the company’s trading platform. Schwab also said users will have access to 24/7 phone and chat support, extending the service expectations common in traditional brokerage environments into the crypto segment.
Pricing, investor preferences, and platform strategy
Schwab’s pricing of 75 basis points is central to its pitch. The company said the fee structure is among the lowest in the industry for direct crypto trading offered by a major brokerage. That focus appears to be backed by client research. Schwab surveyed 460 current and prospective crypto investors between July and September 2025, and found that three factors stood out when investors choose a crypto trading provider: low and transparent pricing, brand familiarity, and confidence that assets will be kept secure.
Those survey results help explain the design of Schwab Crypto. The company is leaning on the strengths it already has as a legacy financial institution: a widely recognized brand, an established service model, and an investor base that may value institutional trust as much as market access. In a sector where some users prefer crypto-native platforms for breadth and flexibility, Schwab is targeting clients who want simplicity, integration, and a familiar interface.
Expansion plans beyond the initial launch
The initial release is only the first stage of Schwab’s broader digital asset roadmap. The company said it intends to add more cryptocurrencies over time and introduce transfer capabilities for deposits and withdrawals. That future functionality would allow clients to move existing digital asset holdings into Schwab, a meaningful step for investors who already own crypto elsewhere but want to consolidate custody and portfolio oversight under one roof.
These planned additions suggest Schwab is thinking beyond basic buy-and-sell access. If transfer functionality is eventually implemented, the platform could become more competitive with dedicated crypto venues by supporting asset portability in addition to execution. For many investors, the ability to bring external holdings into a brokerage account would make Schwab Crypto more than just an on-ramp; it would become a more complete digital asset management destination.
Schwab’s existing footprint in digital assets
Although the launch may look like a new push, Schwab noted that it already has a meaningful presence in the digital asset market. According to the company, Schwab clients currently hold approximately 20% of spot crypto exchange-traded products. In addition to the new spot trading service, existing crypto-related access points for Schwab clients include spot crypto ETPs, crypto futures, options on spot crypto ETPs, and crypto-related mutual funds.
That backdrop is important because it shows the firm is not entering crypto from zero. Instead, Schwab is extending an existing digital asset offering into direct spot trading, likely in response to growing client demand for native crypto ownership rather than only derivative or fund-based exposure. The move also aligns with a broader industry trend in which traditional financial institutions are gradually expanding from passive or indirect crypto products toward direct trading and custody-related services.
What the launch means for the market
Schwab Crypto’s arrival could be meaningful for the broader U.S. retail investment landscape. Charles Schwab is one of the largest and most recognizable brokerage brands in the country, and its decision to enable spot bitcoin and ethereum trading may help normalize crypto as a standard option within mainstream investment accounts. For investors who have hesitated to open accounts at dedicated crypto platforms, Schwab’s model offers a familiar alternative with integrated support, conventional account relationships, and a brand they may already trust.
At the same time, the rollout remains intentionally limited in scope. Only two assets are available at launch, and broader token support and transfer capabilities will come later. Still, the direction is clear: Schwab is building a framework in which digital assets sit alongside equities, fixed income, and funds as part of the core brokerage experience. Whether that approach reshapes client behavior will depend on adoption, pricing competitiveness, and how quickly the platform expands. But as of now, the launch marks another notable step in the convergence of traditional finance and the crypto market.