Charles Schwab has completed the phased retail rollout of Schwab Crypto, its service offering direct Bitcoin and Ethereum trading. CEO Rick Wurster announced during the company’s October 15 business update that clients can now access Schwab Crypto. The company, which has approximately 40.3 million active brokerage accounts, is also gradually introducing cryptocurrency transfers.
The announcement follows a rollout that began in May and marks broader availability across the company’s retail client base. Eligibility requirements, application approval, and geographic restrictions still apply to crypto accounts.
Bitcoin and Ethereum Trading Reaches Broader Availability
Schwab first announced details of its direct cryptocurrency trading service on April 16, 2026. The company said access would expand in phases over the following weeks; the retail rollout began in May.
Wurster’s latest comments indicate that the service has reached a broader group of retail investors. According to the published meeting transcript, the CEO said all clients can now access Schwab Crypto.
The service allows investors to buy and sell Bitcoin and Ethereum directly. Clients can monitor their cryptocurrency holdings through Schwab’s website, Schwab Mobile, and thinkorswim, trading on the same platforms they use for traditional investments.
Schwab Crypto accounts support cryptocurrency transactions only. Exchange-traded products offering indirect crypto exposure and other traditional investment products remain available through the linked brokerage account.
Cryptocurrency Transfers Are Rolling Out Gradually
The expansion of trading access comes alongside support for cryptocurrency transfers. According to Schwab’s current guidance, eligible clients can send supported cryptocurrencies to external wallets or receive them after enrolling in the transfer service.
Schwab is enabling the feature gradually across Schwab Crypto accounts. Clients receive an email when transfers become available for their accounts; access to trading therefore does not mean transfers are enabled at the same time.
Charles Schwab Premier Bank and Paxos have separate responsibilities within the account structure. Schwab Premier Bank handles custody and recordkeeping for clients’ digital assets, while Paxos provides sub-custody and trade execution services.
Clients use a separate Schwab Crypto account linked to their existing brokerage account. This structure allows them to view cryptocurrency alongside their traditional portfolio while keeping the accounts separate.
Trading Fee Set at 0.75%
Schwab charges a 0.75% fee on each cryptocurrency purchase and sale. The minimum fee is $0.01; at that rate, a $1,000 transaction carries a $7.50 fee.
The platform supports market, limit, stop, and stop-limit orders. Investors can place orders based on cryptocurrency quantities or dollar amounts, while Schwab provides round-the-clock specialist support for its trading platforms and cryptocurrency transactions.
Access requires an eligible brokerage account and residence in a supported U.S. jurisdiction. Residents of New York, Louisiana, and U.S. territories, along with international clients, remain outside the service’s current coverage.
Crypto Expansion Across a Platform With 40.3 Million Accounts
According to Schwab’s financial results released on October 15, active brokerage accounts reached approximately 40.3 million at the end of September. Total client assets stood at $13.33 trillion.
These figures illustrate the scale of the financial platform offering the cryptocurrency service. However, the active brokerage account total does not represent the number of unique clients who have opened crypto accounts or traded Bitcoin and Ethereum.
The company’s expansion plans include additional cryptocurrencies. On August 27, Schwab announced plans to add Solana (SOL), Avalanche (AVAX), and Chainlink (LINK) to the platform in the following months.
Its current product page lists Bitcoin and Ethereum as available for trading. The planned additions of SOL, AVAX, and LINK should therefore be distinguished from assets already supported on the platform.
