Charles Schwab plans to offer direct BTC and ETH trading to its 38.9 million brokerage accounts in H1 2026, backed by $12.22 trillion in client assets.
Charles Schwab, the largest publicly traded US brokerage with 38.9 million active accounts and $12.22 trillion in client assets, has opened a waitlist for direct spot Bitcoin and Ethereum trading through its banking subsidiary.
Schwab confirmed on April 3 that its new Schwab Crypto account, operated through Charles Schwab Premier Bank, SSB, will let qualifying clients buy and sell Bitcoin and Ethereum directly alongside their traditional investments. CEO Rick Wurster outlined to Reuters in December 2025 that the rollout will follow a phased approach: internal employee testing first, then a small client group, before broad availability in the first half of 2026.
The service will be available in all US states except New York and Louisiana. Schwab already offers crypto exposure through ETFs and futures, but this marks its first move into direct spot trading. The firm's scale dwarfs existing crypto-native exchanges, with client assets exceeding those of Coinbase, Kraken, and Gemini combined.
Schwab's entry signals that spot crypto trading is becoming a standard feature for mainstream brokerages, not an alternative niche. The regulatory path was cleared by two key changes: the SEC rescinded SAB 121 in January 2025, removing unfavorable custody accounting rules, and the OCC reaffirmed in March 2025 that national banks can legally custody crypto and participate in distributed ledgers without prior supervisory approval.
For the broader market, Schwab's move could funnel significant new capital into BTC and ETH. Fidelity, Interactive Brokers, and Robinhood already offer spot crypto, but Schwab's 38.9 million accounts represent a client base that has largely sat on the sidelines. The announcement comes during a period of extreme fear in crypto markets, with the Fear & Greed Index reading 11, suggesting the firm is positioning for long-term demand rather than chasing short-term hype.
No exact launch date has been confirmed beyond the H1 2026 window. Traders should watch for Schwab to announce the end of its employee testing phase, which would signal broad availability is weeks away. The firm has not disclosed trading fees or whether it plans to expand beyond BTC and ETH. Additional altcoin support would be a major catalyst for tokens that meet regulatory clarity thresholds.
Schwab joining the spot crypto market removes one of the last barriers between traditional finance and digital assets. With the regulatory framework now in place and the largest US brokerage committing to direct trading, the question is no longer whether mainstream adoption will happen, but how fast the remaining holdouts will follow.
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Disclaimer: News content is for informational purposes only and should not be considered financial advice. Market conditions can change rapidly. Always conduct your own research.
