Charles Schwab is moving deeper into crypto. The wealth manager revealed fresh details about its upcoming Schwab Crypto platform, which will let eligible customers buy and sell Bitcoin (BTC) and Ethereum (ETH) directly — with plans to expand into more tokens over time.
What Schwab Crypto will offer
- Direct trading in Bitcoin and Ethereum at launch (Schwab notes these two coins make up roughly three-quarters of crypto market capitalization).
- Plans to add more cryptocurrencies later.
- Deposit and withdrawal/transfer functionality so clients can consolidate digital-asset holdings from other wallets or platforms into Schwab.
- Education and research wrapped into the product via the Schwab Center for Financial Research and Schwab Coaching, aiming to help investors understand how crypto might fit into broader portfolios rather than treating it as a separate silo.
- Competitive pricing: Schwab says trades will incur a fee of 75 basis points (0.75%) on the dollar value of each trade, positioning the service “among the lowest in the industry.”
Why Schwab thinks this will resonate
Joe Vietri, Head of Digital Assets at Schwab, framed the service as an “all-in-one investing and banking experience” that combines access to well-known cryptocurrencies with Schwab’s operational infrastructure and educational resources. He said the platform targets two groups: newcomers who want a trusted institution for crypto exposure, and current crypto holders who want to manage their digital assets alongside traditional accounts with greater convenience and confidence. Jonathan Craig, Head of Retail Investing, added that Schwab Crypto aims to be a retail destination for direct crypto exposure while preserving the service and research tools Schwab customers expect.
How it will work operationally
Schwab clients will get a separate Schwab Crypto account offered through Charles Schwab Premier Bank (CSPB), linked directly to their brokerage accounts. CSPB will act as custodian, handling safekeeping and record-keeping. For sub-custody and trade execution, Schwab selected Paxos, a U.S.-regulated blockchain infrastructure provider; Paxos will operate under a federally overseen trust model and enterprise-grade technology to support institutional digital-asset services.
Market snapshot
At the time of the announcement, Bitcoin traded near $74,900 — up about 4.5% over the week — but the rally was running into resistance around $76,000, the nearest major hurdle for BTC in the short term.
Bottom line
Schwab Crypto represents another step by a big traditional broker into direct crypto custody and trading, combining custody and execution partnerships with an emphasis on low fees and investor education. For investors who prefer to keep traditional and digital assets in one place, Schwab is positioning itself as a familiar on-ramp.
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