$12T Charles Schwab to Launch ‘Schwab Crypto’ for Bitcoin and Ethereum Trading
Highlights
- Charles Schwab has teased the launch of 'Schwab Crypto.'
- The platform will enable clients to trade Bitcoin and Ethereum directly.
- The firm's CEO said last month that they are eyeing this quarter for a limited rollout.
Brokerage firm Charles Schwab has teased the launch of ‘Schwab Crypto, ‘ which will enable its clients to trade Bitcoin and Ethereum directly on its platform. The firm’s CEO recently hinted that this crypto trading platform could launch this quarter, even as institutional investors continue to embrace crypto.
Charles Schwab Teases Launch Of Schwab Crypto
The brokerage firm has announced that its Schwab crypto account will launch soon and allow clients to trade Bitcoin and Ethereum. The firm’s bank, SSB, will be responsible for this crypto offering, while it hinted that it will first provide early access to some customers before a public launch.
This aligns with Charles Schwab’s CEO, Rick Wurster’s, statement to Barron’s that the crypto offering will be available this quarter to a limited group of clients, with a larger expansion to follow. The brokerage platform first confirmed plans to launch Bitcoin and Ethereum trading last year, with the CEO stating that they would roll out with staff tests, then a small client pilot, before wider access.
It is worth noting that Charles Schwab already allows its clients to invest in crypto ETFs and crypto stocks through its brokerage platform. Furthermore, the firm also offers crypto futures, including BTC and micro BTC futures.
With plans to roll out direct Bitcoin and Ethereum trading, the brokerage firm joins a host of other traditional finance (TradFi) giants that are looking to offer their clients direct access to crypto. Firms like Morgan Stanley also plan to roll out crypto trading, with the bank doing so through its brokerage firm, E*TRADE. Morgan Stanley plans to launch Bitcoin, Ethereum, and Solana trading.
Huge Adoption Boost For Crypto
Charles Schwab’s move to launch Bitcoin and Ethereum trading for its clients marks a major boost in institutional crypto adoption, with the firm boasting $12 trillion in assets under management (AUM) as of February 2026. The firm also boasts about 46 million client accounts, further highlighting the number of investors that could move into crypto.
Meanwhile, it is worth mentioning that Charles Schwab-backed EDX Markets is currently seeking a national bank charter from the OCC. The exchange is looking to join the likes of Ripple and Coinbase, which have received conditional approval for their trust charter applications.
EDX CEO Tony Acuña-Rohter stated that the next wave of crypto adoption will be the large banks. As such, the exchange believes that obtaining a national trust charter will give it an advantage in serving these banks.
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