Charles Schwab announced its entry into spot Bitcoin and Ethereum trading on May 12, 2024. The brokerage didn't make a big splash then, but Schwab Crypto is now active for selected retail clients through their existing Schwab-linked accounts.
What's Included
The service gives clients 24/7 customer support when trading. Users get educational materials and market research alongside the crypto trades. It's not some experimental add-on; it's baked into Schwab's main platform.
Fees Revealed
Each trade costs 75 basis points of the dollar value. That's a flat 0.75% fee whether buying or selling. Schwab didn't offer any discounts or tiered pricing in the initial rollout.
Who Can Use It
Access is limited to a small slice of Schwab's retail base. There's no public waiting list or sign-up page. Clients only get access if Schwab invites them directly. The firm hasn't said when broader availability might start.
This isn't just another exchange launching. Schwab manages $8 trillion in assets. When a giant like this opens crypto trading quietly, it signals where the money is actually moving. No flashy marketing, no hype — just infrastructure for serious investors.
Schwab hasn't given any timeline for opening the service to more clients. The invitation-only model could last months longer while they monitor demand.
