Charles Schwab Launches Bitcoin and Ethereum Trading

Charles Schwab has officially rolled out trading for Bitcoin (BTC) and Ethereum (ETH) on its Schwab Crypto platform through Charles Schwab Premier Bank, according to the announcement made today. The phased launch will begin with an internal employee pilot, followed by a client waitlist pilot, with deeper expansion planned throughout Q2 2026 and beyond. The service will be available to up to 46 million active brokerage accounts at a competitive 0.75% fee rate.

Service Rollout and Scope

The phased launch structure includes an employee pilot stage, followed by expansion to clients on a waitlist basis, with broader availability expected in Q2 2026 and beyond. New York and Louisiana are currently exempt from the service. Charles Schwab’s announcement follows an earlier announcement made earlier this month regarding cryptocurrency integration.

Company Scale and Financial Performance

Charles Schwab, headquartered in Texas, currently manages approximately $1.48 trillion in assets under management (AUM) across up to 46 million active brokerage accounts, overseen by 16,000 advisors. The firm released its Q1 2026 earnings report on the same day as the crypto announcement. Net revenue grew 16% year-over-year to $6.48 billion, slightly missing the $6.50 billion expectation. This earnings miss caused the company’s stock (NYSE: SCHW) to drop 7.73%, trading at $92.53 at the time of reporting.

Market Context

At the time of the announcement, Bitcoin reached $75,000, driven by heightened demand in spot ETF inflows and hopes of a US-Iran ceasefire, according to CoinMarketCap. Ethereum was trading at $2,357, down 0.75%, due to heightened selling pressure following a whale transaction. An Ethereum long whale took profit by selling approximately 120,000 ETH, valued at about $59 million.

Competitive Positioning

Charles Schwab’s entry into cryptocurrency trading positions it as a competitor to established platforms. The firm’s 0.75% fee structure is competitive compared to Fidelity Crypto’s 1% fee. However, Robinhood maintains certain advantages, including offering over 15 cryptocurrencies, broader geographic reach beyond the US (operating in the EU and Asia-Pacific), and support for external wallet transfers.