Charles Schwab Enters Crypto Market, Expands Bitcoin and Ethereum Trading Footprint
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Summary
BroadChain learned that on April 17 at 21:48, according to NewsBTC, Charles Schwab is aggressively entering the cryptocurrency space with fees lower than those of major competitors—and its massive customer base far exceeds that of most U.S. financial platforms. The Texas-based brokerage has begun offering spot BTC and ETH trading via its Schwab Crypto platform, operated by Charles Schwab Advanced Bank; however, access is not yet fully open. Rollout will be phased: starting with an internal employee pilot, followed by a customer waitlist, with broader availability expected by the end of Q2 2026. Customers in New York and Louisiana are currently excluded. Charles Schwab manages nearly $1.5 trillion in assets.
BroadChain has learned that as of 21:48 on April 17, per a NewsBTC report, Charles Schwab is making a significant push into the cryptocurrency market, backed by a massive existing client base and trading fees undercutting its main rivals. The Texas-based brokerage has initiated spot Bitcoin and Ethereum trading through its Schwab Crypto platform, operated by Charles Schwab & Co., Inc., though access remains limited initially.
The rollout will be phased: starting with an internal employee pilot, followed by a customer waitlist, with wider availability anticipated by the end of the second quarter of 2026. Clients in New York and Louisiana are currently excluded.
With nearly $1.5 trillion in assets under management and approximately 46 million active brokerage accounts supported by 16,000 financial advisors, Charles Schwab possesses exceptional market reach. The firm has set its crypto trading fee at 0.75%, below Fidelity's 1%, giving it a clear pricing edge.
However, Schwab is entering a competitive field. Robinhood, for instance, has offered cryptocurrency trading for years, supports over 15 digital assets, and allows transfers to external wallets—whereas Schwab is launching with just Bitcoin and Ethereum. According to the report, Schwab plans to expand its crypto offerings and introduce AI-powered tools in the future, aiming to meet investor demand for blended traditional and digital asset portfolios. This forms part of its broader strategy to diversify revenue streams.
On the same day as its crypto announcement, Schwab reported its first-quarter 2026 results: net income rose 16% year-over-year to a record $6.48 billion, slightly below analyst estimates of $6.5 billion. The news triggered a 7.70% drop in its stock price, closing at $92.51.
In related market movements, Bitcoin climbed to $75,000, fueled by strong spot ETF inflows and optimism around potential U.S.-Iran ceasefire talks. Ethereum, meanwhile, fell 0.75% to $2,355 after a large holder sold roughly 120,000 ETH (worth nearly $60 million) to take profits.
Schwab's move adds another major traditional finance player to the growing roster of institutions offering direct crypto access, further accelerating the integration of Bitcoin and Ethereum into mainstream investment portfolios.