Charles Schwab opens Bitcoin and Ethereum trading to all U.S. retail clients
U.S. brokerage firm Charles Schwab has completed the rollout of its Schwab Crypto platform to all eligible retail clients in the United States. Customers can now trade Bitcoin and Ethereum directly, although their crypto assets are not covered by traditional investor protection programs.
The full rollout was disclosed during the company's fall business update. CEO Rick Wurster described the cryptocurrency business as a significant new source of transaction revenue.
Charles Schwab manages more than $13.33 trillion in client assets and serves approximately 40 million accounts. The expansion of Schwab Crypto allows investors to trade digital assets through the company's existing brokerage platform.
Client cryptocurrencies will be held through Paxos
Schwab Crypto initially launched on a limited basis in May 2026, following the opening of a waitlist in April. At first, customers could only buy and sell Bitcoin and Ethereum, without the ability to transfer cryptocurrencies to external addresses.
The company now also supports transfers over the Bitcoin and Ethereum networks. Customers must register recipient addresses in advance before sending funds.
Cryptocurrency custody is provided by Paxos Trust Company, which holds a federal trust charter from the U.S. Office of the Comptroller of the Currency (OCC). The assets are held by a third-party custodian rather than directly by Schwab's brokerage division.
However, cryptocurrency balances are not protected by the Securities Investor Protection Corporation (SIPC) or the Federal Deposit Insurance Corporation (FDIC). Neither protection program covers potential losses involving digital assets.
In the second quarter of 2026, Schwab also acquired a stake in Paxos, strengthening its partnership with the cryptocurrency infrastructure provider.
Schwab plans to expand its digital asset offerings
The launch of direct cryptocurrency trading is part of the broker's strategy to expand its investment services. Wurster previously expressed plans to compete with Coinbase following changes to U.S. cryptocurrency regulations.
The company has also supported legislative initiatives aimed at establishing rules for digital assets. In particular, Schwab participated in discussions surrounding the Digital Asset Market Clarity Act.
In August 2026, the broker announced plans to add Solana, Avalanche and Chainlink to its platform. Trading in these assets is expected to launch in the coming months.
Schwab therefore intends to expand beyond its initial offering of two cryptocurrencies and provide retail clients with additional investment options. The company has not yet specified when the new assets will become available.
Earlier, we reported that Charles Schwab shares declined amid selling pressure following the release of weak financial results. Investors reacted negatively to the company's revenue figures.
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