Schwab Opens BTC/ETH Trading

Charles Schwab said this week it will begin rolling out direct Bitcoin and Ethereum trading to retail clients through a new product called Schwab Crypto. (pressroom.aboutschwab.com) The company said the launch will happen in phases “in the coming weeks,” starting with Bitcoin and Ethereum spot trading rather than futures or exchange-traded funds. Schwab said the service will pair trading with educational material and phone support. (pressroom.aboutschwab.com) Schwab ended 2025 with $11.90 trillion in client assets and 46.5 million total client accounts, according to its fourth-quarter results and annual report. That makes the rollout one of the biggest mainstream brokerage entries yet into direct crypto trading. (pressroom.aboutschwab.com) (content.schwab.com) Spot trading means customers buy the asset itself at the current market price, instead of buying a fund that tracks it or a futures contract tied to its later price. Schwab had already offered crypto-linked exchange-traded products and crypto futures on thinkorswim before moving to direct Bitcoin and Ethereum trades. (schwab.com 1) (schwab.com 2) The timing follows a year in which U.S. spot Bitcoin and spot Ethereum exchange-traded funds moved crypto deeper into standard brokerage accounts. Schwab’s own crypto page already steers clients to exchange-traded products that invest directly in Bitcoin, Ethereum, and other digital assets. (schwab.com) Chief Executive Rick Wurster had signaled the move earlier this year. In an interview published April 17, he said Schwab would roll out spot cryptocurrency trading and named Bitcoin and Ethereum as the initial assets. (decrypt.co) Schwab is framing the product around clients who want crypto access inside an existing brokerage relationship rather than through a separate crypto exchange. In a company survey cited in the launch announcement, 70% of investors holding crypto said they would be “very likely” or “somewhat likely” to buy crypto through their primary brokerage. (pressroom.aboutschwab.com) The company is also keeping its risk warnings front and center. Schwab says cryptocurrency-related products are “highly speculative,” can swing sharply in price, and can expose investors to the loss of their entire investment. (schwab.com) For crypto markets, the practical change is distribution: a broker already used for stocks, funds, and retirement assets is adding a direct on-ramp for two of the largest digital tokens. The next test is how quickly that phased rollout turns announced access into regular client trading. (pressroom.aboutschwab.com) (content.schwab.com)