Charles Schwab to Add Direct Bitcoin and Ethereum Trading With New "Schwab Crypto" Offering

Charles Schwab plans to introduce direct trading in Bitcoin and Ethereum through a new service branded Schwab Crypto, bringing spot crypto access inside its core brokerage platform. CEO Rick Wurster said the rollout will be phased, starting with a limited release this quarter and expanding over time to a wider client base. Schwab said its banking unit, SSB, will oversee the product. The firm expects to move from internal testing to a small client pilot before scaling availability across its broader customer base. Schwab clients already have indirect crypto exposure through crypto-related exchange-traded funds, stocks, and futures, including Bitcoin and micro Bitcoin contracts. Direct trading marks a step-change in the firm's digital-asset approach. As of February 2026, Schwab reported about $12 trillion in assets under management and roughly 46 million client accounts, giving the initiative a large addressable audience of traditional investors. The push comes as major financial institutions build out infrastructure for direct participation in digital-asset markets. Morgan Stanley is preparing to add crypto trading via its brokerage unit, E*TRADE, with support for multiple digital assets. Separately, Charles Schwab-backed EDX Markets is seeking a national bank charter from the OCC; CEO Tony Acuña-Rohter said the exchange wants to be positioned to serve large banks entering the crypto sector.