Charles Schwab has begun rolling out its new Schwab Crypto accounts to retail clients, enabling users to trade Bitcoin and Ethereum directly on the platform alongside traditional investments as of Tuesday.
The service is currently available to most U.S. residents, though it is not yet offered to residents of New York, Louisiana, or U.S. territories. International users are also excluded at this stage.
Schwab Crypto Rollout
According to the company announcement, the first group of eligible clients can begin accessing crypto trading. To open a Schwab Crypto account, customers must already hold an eligible Charles Schwab brokerage account. Supported account types include individual and joint brokerage accounts, and additional eligibility rules apply depending on jurisdiction.
Schwab Premier Bank will act as the custodian for Schwab Crypto, while Paxos will handle trade execution and sub-custody services. According to Schwab’s FAQ, the platform plans to charge a trading fee of 75 basis points.
This rollout marks a further step in the firm’s expansion into the cryptocurrency market. Last month, Charles Schwab launched a dedicated crypto page on its website under the “Schwab Crypto” brand to broaden options for retail investors seeking direct exposure to digital assets.
Founded in 1971, Charles Schwab manages approximately $12 trillion in assets and is one of the largest banking and financial services organizations in the United States. Despite the firm’s move into crypto, there were no obvious swings in the prices of the two largest digital assets at the time of the rollout: Bitcoin remained near $80,000 and Ethereum traded around $2,300.
Schwab 1Q Results
Charles Schwab reported net income of $2.5 billion for the first quarter of 2026. After excluding certain transaction-related items, adjusted profit rose to $2.6 billion, and adjusted earnings per share increased 38% year over year to $1.43.
Quarterly revenue grew 16% to $6.48 billion. Client assets reached $11.77 trillion as of the end of March, a 19% increase from the prior year. During the quarter the firm recorded $140 billion in core net new assets and opened 1.3 million new brokerage accounts, bringing total client accounts to 47.2 million.