Charles Schwab: Spot Bitcoin and Ethereum trading for retail customers

Charles Schwab (Charles Schwab), one of the largest brokerage firms in the United States, issued an announcement on Thursday, saying it will roll out spot trading services for Bitcoin (BTC) and Ethereum (ETH) to qualified U.S. retail customers within the next few weeks. According to the announcement, trade execution will be carried out through the federally regulated trust company Paxos, and asset custody will be handled by Charles Schwab’s bank subsidiary.

Service structure, fees, and technical execution details

According to Charles Schwab’s Thursday announcement, spot Bitcoin and Ethereum trading will be provided through separate cryptocurrency accounts linked to brokerage accounts. Customers can view cryptocurrency and other assets such as stocks in the same interface, and access channels include the Charles Schwab official website, mobile platforms, and the Thinkorswim platform.

The key service terms disclosed in the announcement are as follows:

Fees: Charge 75 basis points (0.75%) per transaction

Asset custody: Held in a custody model by Charles Schwab’s bank subsidiary

Execution partner: Paxos, the federally regulated trust company

Initial supported coins: BTC and ETH; later plans to add more cryptocurrencies and enable deposit and withdrawal functions

Geographic restrictions: Initially exclude residents of New York State and Louisiana, and open only to qualified U.S. retail customers in other states

In terms of fee comparison, according to publicly available information on each exchange’s website, Kraken’s starting fees are about 0.25% to 0.40%, and they decrease as trading volume increases, which is lower than Charles Schwab’s 0.75% fee rate.

Charles Schwab’s existing crypto product lineup and concurrent developments at traditional financial institutions

According to Charles Schwab’s Thursday announcement, the company’s existing crypto products already cover exchange-traded products, futures, and funds tied to digital assets. Charles Schwab internally estimates that its clients currently hold about 20% of spot crypto ETF products.

In the same month, Morgan Stanley, on April 8, 2026, launched a spot Bitcoin ETF (ticker: MSBT) on NYSE Arca (NYSE Arca), recording $30.6 million in net inflows on the first trading day; as of April 15, the fund’s total net assets were $87.6 million. Goldman Sachs filed with the SEC in April 2026 to plan to launch a Bitcoin-linked ETF, aiming to generate returns through an options strategy and reduce volatility.

For crypto-native brokers, Coinbase launched stock and ETF trading in December 2025; Kraken launched tokenized stock perpetual futures in February 2026, covering U.S. stocks, indices, and commodities-related underlying assets.

Frequently asked questions

What is the fee for Charles Schwab’s spot crypto trading service?

According to Charles Schwab’s Thursday announcement, a fee of 75 basis points (0.75%) is charged per transaction. According to publicly available information on each exchange’s website, Kraken’s starting fee rate is about 0.25% to 0.40%, and it decreases as trading volume increases, which is lower than Charles Schwab’s fee rate.

How are customer assets protected in Charles Schwab’s crypto trading service?

According to Charles Schwab’s Thursday announcement, customers’ crypto assets are held by Charles Schwab’s bank subsidiary in a custody model, and trade execution is completed through the federally regulated trust company Paxos.

Which U.S. customers currently cannot use Charles Schwab’s spot crypto trading service?

According to Charles Schwab’s Thursday announcement, at the initial stage the service excludes residents of New York State and Louisiana, opening only to qualified U.S. retail customers in other states, and the service will be rolled out in phases within the next few weeks.