Charles Schwab launches Schwab Crypto pilot for Bitcoin and Ethereum; employee and client waitlist ahead of broader rollout through Q2 2026 (excludes NY, LA)

first published 2026-04-16T13:54:14Z

Charles Schwab announced "Schwab Crypto," a phased rollout allowing retail clients to trade spot bitcoin (BTC) and ethereum (ETH) within linked accounts for 75 basis points per trade. Paxos, an OCC‑regulated provider, will handle sub‑custody and trade execution; Charles Schwab Premier Bank, SSB will serve as custodian. Trading will be available via Schwab.com, the Schwab Mobile app, and thinkorswim with 24/7 phone and chat support. Schwab says it will add more cryptocurrencies and enable deposits/withdrawals (transfers) after the initial phased launch in 2026, and positions its pricing among the lowest at a major brokerage.

AI Analysis

The story reports a major US brokerage enabling spot BTC and ETH trading at a stated 75 bps fee, with concrete operational details (Paxos as execution/sub‑custody, Schwab Premier Bank as custodian, availability on web/mobile/thinkorswim and 24/7 support). These facts point to increased retail access and actionable trading availability, supporting a positive sentiment and a material short‑term impact.

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