Charles Schwab plans to begin offering its 38.9 million brokerage clients the ability to directly buy and sell Bitcoin and Ethereum in the second quarter of 2026. This new service, called Schwab Crypto, will provide customers with direct access to these cryptocurrencies for the first time.

Summary

Charles Schwab has officially announced it will begin offering Bitcoin and Ethereum trading soon. The company confirmed the service, called Schwab Crypto, is on schedule to launch in the first half of 2026, starting in the second quarter. This new service will be run through Charles Schwab Premier Bank, a fully regulated bank, and a waitlist for early access is now available.

In a March 2026 interview with Barron’s, CEO Rick Wurster announced the company’s plans to begin trading Bitcoin and Ethereum directly, calling it a logical progression after several years of preparation. He stated they are now prepared to compete in this market.

What Schwab Crypto Actually Is

This new service is a significant change for Schwab’s crypto offerings. Previously, clients could only invest in Bitcoin and Ethereum through products like ETFs and futures, or a specific Schwab crypto-focused fund. Now, with Schwab Crypto, clients can directly hold cryptocurrencies using Schwab’s existing banking system, meaning they won’t need to create a separate account with a dedicated crypto exchange.

We’ll be introducing this in stages: first, we’ll test it with our employees, then a small group of clients. After that, we’ll make it available to all our brokers. Initially, the service won’t be available in New York or Louisiana, and not everyone who applies will be approved.

The Scale of What This Represents

Schwab currently manages over $12 trillion for its 39 million clients. According to crypto.news, visits to Schwab’s cryptocurrency website jumped 400% in 2025. Notably, most of this increased traffic – around 70% – came from people who weren’t yet Schwab customers, suggesting a significant number of traditional investors are interested in crypto but prefer to access it through a well-known brokerage like Schwab rather than dedicated crypto platforms.

Internal research at Schwab in March 2026 described Bitcoin as a well-established and widely accepted asset – a significant change in how institutions viewed it, which paved the way for its launch. Additionally, the Trump administration eased SEC rules regarding crypto accounting, and the Federal Reserve relaxed its guidelines for banks dealing with crypto. These regulatory changes were the green light Schwab needed, as they had been anticipated since the initial proposal by Wurster.

Competitive Implications

Crypto exchanges face strong competition, particularly from established financial firms. Schwab, with its large customer base and ability to offer lower fees, has a significant advantage that newer crypto exchanges can’t easily match. Similarly, Morgan Stanley is planning to enter the market through its E*TRADE platform.

As a researcher following Schwab, I’ve noted they’re planning to launch a stablecoin as soon as the GENIUS Act is passed. This tells me they see their recent move into spot trading not as a single event, but as the first step in a larger, ongoing expansion into the crypto space.

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2026-04-07 01:50