Charles Schwab is gradually introducing a platform that will enable its clients to purchase cryptocurrency directly. The brokerage firm has opened a waitlist for its Schwab Crypto accounts, with plans to launch in the first half of 2026.
Simple and Direct
Eligible clients will be able to trade Bitcoin and Ethereum through a dedicated account associated with the firm’s banking subsidiary. Schwab is separating spot crypto holdings from securities and ETFs, which come with SIPC insurance up to $500,000. Crypto assets in new accounts won’t benefit from such insurance.
The offering remains limited initially. The accounts will not accept external crypto deposits or allow withdrawals to self-custody wallets. Features like staking, recurring purchases, and limit orders are currently unavailable.
Slow Rolling the Offering
The launch will proceed gradually. Internal testing with Schwab employees will precede a limited early-access group drawn from the waitlist.
Following two years since the SEC approved crypto ETFs, the category has grown to $120 billion amid more favorable regulatory conditions. In late 2024, Wurster announced plans for spot crypto trading once U.S. regulations relax further.
Schwab isn’t alone in exploring this space. E*Trade, owned by Morgan Stanley, is preparing to offer spot trading in Bitcoin, Ethereum, and Solana via a partnership with blockchain startup Zerohash.
