Schwab Joins Crypto Ranks with Bitcoin and Ether Trading
Charles Schwab has rolled out direct Bitcoin and Ether trading on its platform at a 0.75% transaction fee, making it one of the largest brokerage platforms in the US to offer crypto trading.
The service was launched on May 13 after a phased rollout, which started with a waitlist and employee pilot. Schwab's CEO Rick Wurster said that clients wanted to hold digital assets alongside their stocks, bonds, and cash, not off to the side on a different app.
The brokerage has reported $13.1 trillion in client assets and 39.8 million active brokerage accounts as of June 30. Schwab's crypto trading service is currently available without deposits or withdrawals, but the company plans to extend direct digital-asset services beyond self-directed retail accounts by mid-2027.
Wurster has attributed part of the increase in trading activity to younger investors and greater use of AI-driven investing tools. The company expects that engagement to continue rather than disappear with the current market cycle.