Schwab Expands Crypto Offerings with Solana, Avalanche, Chainlink Additions

Charles Schwab is expanding its crypto offerings by adding Solana (SOL), Avalanche (AVAX) and Chainlink (LINK) to its platform. The move comes after clients expressed interest in established cryptocurrencies beyond Bitcoin and Ether, which are currently available on the platform.

The brokerage firm, which serves 39.1 million accounts and manages $11.77 trillion in client assets, has not announced an exact launch date for the new assets but says they will be added over the coming months. The trading fee for these assets will be 0.75%, and Schwab's Premier Bank will custody them.

Solana, Avalanche, and Chainlink saw significant price increases following the announcement, with SOL rising more than 11.6% to around $107, LINK increasing by over 6.3% to roughly $11.90, and AVAX gaining more than 4% to trade near $7.50.

Schwab has approached digital assets cautiously but continues to expand its product offerings, including futures exposure to Bitcoin, Ether, and Solana. The company also notes that crypto assets are highly volatile and investors can lose their entire investment.