TLDR
- Charles Schwab began rolling out Schwab Crypto accounts on Tuesday to eligible U.S. retail clients.
- The rollout lets approved users trade spot Bitcoin and Ethereum directly on the Charles Schwab platform.
- Schwab limited access to most U.S. residents and excluded New York, Louisiana, and U.S. territories.
- Schwab has not opened Schwab Crypto accounts to international clients at this stage.
- Clients must already have an eligible Charles Schwab brokerage account to open a Schwab Crypto account.
- Schwab currently supports individual and joint brokerage account types for crypto access.
Charles Schwab started offering spot crypto trading on Tuesday for select retail clients in the United States. The launch lets eligible users trade Bitcoin and Ethereum inside the brokerage platform. The firm excluded New York, Louisiana, and U.S. territories, and it blocked international access.
Charles Schwab Rolls Out Spot Bitcoin Access
The firm said clients must open a “Schwab Crypto” account to trade Bitcoin. However, clients must already hold an eligible Schwab brokerage account.
Schwab Crypto™ accounts are now being rolled out to retail clients.
Starting today, the first group of clients can trade Bitcoin and Ethereum at Schwab, right alongside their other investments.
Sign up for updates and a chance to get early access: https://t.co/ELe1HWHS8Y pic.twitter.com/HJKbPUD7Ob
— Charles Schwab Corp (@CharlesSchwab) May 12, 2026
Schwab Limited supported account types to individual and joint brokerage accounts. The firm also applies jurisdiction checks before it approves access.
Schwab Premier Bank serves as custodian for the crypto accounts. Meanwhile, Paxos manages trade execution and provides sub-custody services.
The FAQs list a 75-basis-point fee, which equals 0.75% per trade. Schwab describes the charge as a “75-basis-point trading fee.”
Schwab introduced a dedicated crypto page on its website last month. The page uses the “Schwab Crypto” branding and outlines product features.
The company said the first eligible group can begin trading immediately. Schwab framed the release as a phased rollout to approved accounts.
Charles Schwab said it targets most U.S. residents with the initial availability. Yet the firm still withholds access from the excluded jurisdictions.
Ethereum Trading Joins the Schwab Crypto Lineup
Schwab also enabled spot Ethereum trading through the same crypto account structure. Clients can place ETH orders beside traditional investments and view positions in one dashboard.
Access remains tied to brokerage eligibility and residence rules. Schwab said clients outside the United States cannot open the account yet.
Schwab said clients must accept updated terms before trading. The firm posts order disclosures and risk notices inside the account interface.
The firm reported $2.5 billion in net income for the first quarter of 2026. After transaction-related expenses, adjusted profit rose to $2.6 billion.
Adjusted earnings per share increased 38% year over year to $1.43. Quarterly revenue rose 16% to $6.48 billion.
Client assets reached $11.77 trillion at March 31, up 19% from a year earlier. Core net new assets totaled $140 billion during the quarter.
Schwab opened 1.3 million new brokerage accounts in the quarter. Total client accounts reached 47.2 million by the period end.
Charles Schwab said it was founded in 1971 and manages about $12 trillion in assets. Bitcoin traded near $80,000 and Ethereum traded around $2,300 after the rollout.
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