Schwab's Crypto Expansion Reaches 40 Million Accounts

Charles Schwab has expanded its crypto offerings to roughly 40 million brokerage accounts. As of August 13, users can directly trade Bitcoin (BTC) and Ethereum (ETH). This represents a significant boost for retail and institutional adoption of these two major cryptocurrencies.

The rollout is described as 'going as planned' by the firm, following their Q2 call in which they mentioned this expansion. In May, Charles Schwab first introduced direct crypto access to its clients, with BTC and ETH being the primary assets offered.

This move could have a positive impact on liquidity and price discovery for BTC and ETH, potentially benefiting investors who trade these cryptocurrencies through Charles Schwab's platform.