Charles Schwab has broadened its cryptocurrency services, enabling eligible retail clients to buy and sell Bitcoin and Ethereum directly through its investment platforms. The move brings spot digital asset trading—purchasing the underlying cryptocurrencies themselves rather than products that track their prices—into one of the largest brokerage businesses in the United States, offering traditional investors a new route into cryptocurrencies.

The company unveiled Schwab Crypto on April 16, 2026, as detailed in an official press release, and began a phased rollout to clients in May. The service is now available to eligible customers, marking a significant expansion beyond Schwab's earlier cryptocurrency investment options.

Direct Access Replaces Indirect Exposure

Until now, Schwab customers largely reached cryptocurrency markets through exchange-traded products, futures, and shares of crypto-focused companies. Those vehicles provided exposure to digital asset prices without requiring investors to hold cryptocurrencies outright.

Schwab Crypto changes that model by supporting direct Bitcoin and Ethereum purchases through a dedicated account. Clients can manage digital assets alongside traditional holdings through the Schwab website, mobile application, and thinkorswim trading platforms.

The company charges a 0.75% transaction fee and advertises zero additional spread. Account holders also gain access to cryptocurrency research, educational resources, advanced trading tools, and round-the-clock customer support.

The service, however, operates through Charles Schwab Premier Bank rather than a standard brokerage account. That structure keeps crypto holdings in an account separate from a client's regular brokerage positions, and customers must maintain an eligible brokerage relationship and receive approval before opening a Schwab Crypto account.

Eligibility Limits Remain

Despite the wider access, the offering is not available to every customer. Eligible investors must reside in supported U.S. jurisdictions, and Schwab currently excludes residents of New York, Louisiana, and U.S. territories. International customers also cannot open these accounts, making it worth confirming availability in a given state before applying.

The company notes that cryptocurrency holdings carry risks that differ from traditional securities, including substantial price volatility and limited regulatory protections. The initial lineup focuses on Bitcoin and Ethereum, the two cryptocurrencies that account for a substantial portion of the digital asset market.

More Tokens on the Roadmap

Schwab is already preparing to broaden its digital asset lineup. In August 2026, the company announced plans to introduce Solana, Avalanche, and Chainlink trading in the coming months.

The expansion reflects growing demand for cryptocurrency access through established financial institutions and positions Schwab to compete more directly with specialized digital asset trading platforms. For retail investors, the development offers a more integrated investment experience: rather than maintaining separate relationships with a traditional broker and a cryptocurrency platform, eligible customers can manage both asset classes within Schwab's existing ecosystem. The rollout of Solana, Avalanche, and Chainlink support will be the next milestone to watch, along with any extension of availability to additional U.S. jurisdictions.