# Charles Schwab Officially Launches Spot Bitcoin and Ethereum Trading for 35 Million Retail Investors
**Meta description:** Charles Schwab officially launched Schwab Crypto on May 13, bringing direct spot BTC and ETH trading to 35 million retail brokerage accounts at a 0.75% fee. **Focus keyword:** Charles Schwab spot Bitcoin Ethereum trading
One of the largest brokerage firms in the United States has formally entered the spot crypto market. Charles Schwab officially launched **Schwab Crypto™** on May 13, 2026, giving its retail client base of approximately 35 to 38 million brokerage accounts direct access to spot Bitcoin and Ethereum trading through the same platform they use for stocks, ETFs, and bonds.
The launch represents one of the most significant mainstreaming events in crypto’s history – not because Schwab’s trading volumes will necessarily rival dedicated crypto exchanges on day one, but because of what it signals: the world’s largest retail brokerage, managing over $12 trillion in client assets, has concluded that spot crypto belongs in its product suite.
## The Mechanics of Schwab Crypto
Schwab Crypto is accessible directly through the Charles Schwab brokerage platform, removing the need for clients to open accounts with dedicated crypto exchanges, manage external wallets, or navigate unfamiliar interfaces.
Key details of the offering:
– **Assets available at launch:** Bitcoin (BTC) and Ethereum (ETH)
– **Fee structure:** 0.75% (75 basis points) per transaction, charged as a spread
– **Custody:** Held by Charles Schwab Premier Bank, the brokerage’s banking subsidiary
– **Minimum trade:** No minimum order size announced
– **Availability:** Phased rollout; not all 35 million accounts received access simultaneously at launch
The 75 basis point fee is higher than what active traders pay on exchanges like Coinbase Pro or Kraken, but it’s competitive with the effective spread that retail clients typically pay on ETF transactions when bid-ask spreads are factored in. For the demographic Schwab is targeting – long-term investors who already hold their portfolios at Schwab and are buying crypto as an allocation decision rather than a trading activity – fee friction is a secondary concern to convenience and institutional trust.
Forbes noted at the time of the product announcement that Schwab is “targeting the $12 trillion bitcoin buyer” – meaning the enormous pool of wealth already custodied at the firm whose owners have expressed interest in crypto exposure but haven’t acted due to the friction of using a separate platform.
## Why This Matters. But ETFs have structural limitations: investors own shares in a fund, not the underlying asset, and fund mechanics introduce costs and tracking differences. Schwab Crypto gives investors actual BTC and ETH, held in their name, without the fund wrapper.
It also matters who’s doing this. Schwab isn’t a crypto-native company making a retail push – it’s the establishment of American retail finance, offering crypto on the same platform where millions of Americans hold their retirement savings, their 529 college funds, and their taxable investment accounts. The psychological barrier of treating Bitcoin as a portfolio asset equivalent to an S&P 500 index fund lowers meaningfully when the same interface manages both.
FinanceFeeds described the launch as “a major moment for mainstream crypto adoption” that “bridges the gap between traditional finance and the digital asset system in a way ETFs never fully achieved.”
## Advisor Pushback and Industry Context
Not everyone in Schwab’s system is celebrating. Forbes reported that Registered Investment Advisors (RIAs) who custody client assets at Schwab have already raised concerns about the fee structure and the potential for clients to bypass advisor guidance when making direct crypto purchases.
The advisor friction isn’t unique to Schwab. When Fidelity and Robinhood expanded crypto offerings, similar tensions emerged around suitability standards and whether platforms should be helping unsophisticated retail investment in volatile assets without mandatory financial advice layers.
Schwab’s response has been to pair Schwab Crypto with what it describes as “educational content” integrated into the trading interface – a relatively light touch that reflects the regulatory environment under the current administration, which has taken a more permissive stance on retail crypto access than its predecessor.
## What Comes After BTC and ETH
Schwab hasn’t announced plans to add additional cryptocurrencies beyond Bitcoin and Ethereum at launch. The phased rollout language in the company’s press release suggests that the initial offering is deliberately conservative – testing infrastructure, client demand, and regulatory reception before expanding.
Industry observers expect Schwab to add Solana, XRP, and potentially other major assets within 12 to 18 months if the initial launch performs well. The competitive pressure from Fidelity, which has been offering crypto trading for a longer period, and from Robinhood, which has a significantly broader altcoin selection, will likely accelerate that timeline.
## The Broader Institutional Trend
Schwab’s launch follows a pattern of traditional finance incumbents moving aggressively into spot crypto in 2025 and 2026. JPMorgan launched its second tokenized money market fund on Ethereum just weeks ago. Tokenized treasuries crossed $15 billion in total value earlier this month. Jane Street, one of the world’s largest market makers, disclosed a significant pivot in its crypto ETF positioning in Q1 2026.
The trend lines are consistent: the largest pools of conventional capital are integrating crypto infrastructure at a pace that would have seemed implausible three years ago.
## FAQ
**How do I access Schwab Crypto?** Schwab Crypto is available directly through the Charles Schwab brokerage app and web platform. Access is being rolled out in phases; existing Schwab clients can check the platform for availability.
**What fee does Schwab charge for crypto trading?** Schwab charges a 0.75% (75 basis point) spread on crypto transactions, embedded in the execution price rather than listed as a separate commission.
**Is Schwab Crypto safer than using a crypto exchange?** Schwab is regulated by FINRA and SIPC, and client assets are custodied at Charles Schwab Premier Bank. This provides regulatory protections not available on unregulated crypto exchanges, though crypto assets themselves aren’t covered by SIPC insurance (which covers securities, not commodities).
*Sources: Charles Schwab pressroom, FinanceFeeds, Forbes, CoinDesk, CNBC*
