Key Takeaways:
Brokerage giant Charles Schwab has begun rolling out its spot cryptocurrency trading platform to U.S. retail clients, giving an initial group of its 35 million customers access to Bitcoin and Ethereum.
"The ability to directly trade the actual assets through a company with the scale of Schwab could be a pivotal accelerator for mainstream crypto adoption," the company said in a statement, confirming the launch is now live for an initial set of users.
The platform, named Schwab Crypto, uses Paxos for custody services and charges a 0.75 percent fee per transaction. The launch makes only the two largest cryptocurrencies by market capitalization available for trading and is being conducted in phases. Schwab has not provided a specific timeline for when all clients will gain access, stating it depends on performance and feedback from the initial user group.
Schwab’s entry into spot crypto is one of the most significant institutional distribution events for the asset class, potentially introducing millions of traditional investors to direct digital asset ownership. The move comes as institutional demand continues to rise, with Bitcoin ETFs absorbing roughly 10 times the daily mining supply and competitors like Goldman Sachs also filing for new crypto products.
While the current platform is limited to basic buy and sell orders, its launch adds another layer of legitimacy to the crypto market. It signals that even conservative, established brokerages now view offering crypto access as a business necessity to retain clients who are seeking exposure alongside traditional assets like stocks and bonds.
This article is for informational purposes only and does not constitute investment advice.
