Schwab Crypto goes live as retail clients get BTC, ETH access
Charles Schwab has started rolling out Schwab Crypto to select retail clients, giving eligible users direct access to spot Bitcoin and Ether trading. Schwab Crypto lets eligible retail clients trade Bitcoin and Ethereum beside traditional investment products.Charles Schwab Premier Bank will custody assets, while Paxos handles execution and sub-custody services.The launch adds fee pressure as Morgan Stanley expands ETrade crypto trading at lower costs. In a Tuesday post on X, the firm said the service lets clients trade crypto beside other investment products across Schwab platforms. The rollout follows Schwabs April plan to launch the product in phases. The company said Schwab Crypto would offer direct Bitcoin and Ethereum trading, education, research and support. Jonathan Craig, head of retail investing, said clients want to conduct “more of their financial lives at Schwab.” Bitcoin and Ethereum trading starts with limits At launch, Schwab Crypto supports Bitcoin (BTC) and Ethereum (ETH). Schwab said the two assets account for about three-quarters of total crypto market capitalization. Clients can view and trade crypto beside traditional investments through Schwab.com, Schwab Mobile and thinkorswim. The product charges 75 basis points on the dollar value of each trade. Schwab also said the account is separate from a brokerage account, though it is