Charles Schwab will offer spot crypto trading, transfers and custody for financial advisors by mid-2027. The platform will let advisors manage digital assets alongside traditional holdings for their clients. Schwab Advisor Services currently holds over $5 trillion for 16,000+ advisors.
How Advisors Currently Handle Crypto
Most financial advisors route client crypto allocations to specialists like Coinbase Prime and BitGo. Fidelity Digital Assets already provides similar institutional services. Schwab's entry directly challenges these players with its existing infrastructure.
Threat to Crypto-Native Firms
Coinbase Prime oversees about $330 billion in institutional assets today. Schwab's bundled bank-and-broker offering could undercut crypto specialists on pricing. Smaller players may struggle to match its scale and integration depth.
Timeline and Development
Managing director Jalina Kerr disclosed the plan during a recent media roundtable. The mid-2027 target allows time for custody architecture development and federal compliance work. Schwab must build entirely new trading infrastructure for the service.
Next Steps for Advisors
Beta testing could begin late this year as Schwab develops the platform. Advisors will likely get preview access before the full launch. The rollout pace depends on ongoing regulatory discussions with federal agencies.
