Schwab Opens Waitlist for Bitcoin and Ethereum Trading

Charles Schwab has launched a public waitlist for Schwab Crypto, a new service allowing clients to trade Bitcoin and Ethereum directly. The firm confirmed plans for a first-half 2026 launch, with a limited Q2 rollout followed by broader access. The service will be available through Charles Schwab Premier Bank, SSB, and requires an existing Schwab brokerage account. Internal testing with employees will precede access for select clients.

Schwab Crypto will not be available to residents of New York and Louisiana at launch, and access will be limited to U.S.-based clients only. The firm emphasized that cryptocurrencies held through Premier Bank are not protected by SIPC or FDIC insurance and may lose value. Additionally, the service will not support crypto deposits or disbursements at launch.

As of February, Schwab managed $12.22 trillion in client assets across 38.9 million active brokerage accounts. The firm has evolved its stance on crypto, dismissing it as speculative in 2019 but exploring white-label solutions by 2021. Schwab is now competing with other financial institutions like Morgan Stanley, which is preparing to offer spot Bitcoin, Ethereum, and Solana through E*Trade.

At the time of reporting, Bitcoin was trading around $68,864, while Ethereum was near $2,152, approximately 59% below its all-time high set last August. Schwab shares closed Thursday at around $93.77, reflecting a roughly 19% gain over the past year.