Key Takeaways
- • Charles Schwab launched spot Bitcoin and Ethereum trading in Q2 2026 via Paxos infrastructure, charging 0.75% (75 basis points) per transaction with zero spread.
- • The move positions Schwab, which manages $13.41 trillion in client assets and operates 40.1 million active brokerage accounts, as one of the largest traditional finance firms entering direct crypto trading.
- • Schwab's 0.75% fee structure differs from Fidelity's commission-free model that relies on spread-based pricing, placing it above zero-commission competitors like Robinhood.
- • The brokerage added 24/7 crypto futures trading for Bitcoin, Ether, Solana, and XRP through thinkorswim in June 2026 for eligible clients.
- • Internal traffic data from April 2025 showed crypto website visits surged 400%, with 70% of traffic from prospects rather than existing Schwab clients, signaling untapped demand.
Summary
Charles Schwab entered the spot cryptocurrency market in Q2 2026 with a phased rollout of Bitcoin and Ethereum trading, leveraging Paxos for trade execution and sub-custody services. The firm announced the offering on April 16, 2026, beginning with a waitlist before expanding access across its client base. With $13.41 trillion in client assets under management and 40.1 million active brokerage accounts as of August 31, 2026, Schwab's crypto entry ranks among the most significant traditional finance deployments into digital assets.
The pricing structure charges clients 0.75% on the dollar value of each crypto transaction with no additional spread, establishing a clear fee-based model distinct from competitors. Fidelity, by contrast, operates a commission-free structure that monetizes through spread-based pricing. Schwab's fee places it above zero-commission platforms like Robinhood but reflects a straightforward, transparent pricing approach aligned with its broader retail trading strategy.
Beyond spot trading, Schwab expanded its crypto product suite by adding 24/7 futures trading for Bitcoin, Ether, Solana, and XRP through its thinkorswim platform in June 2026, available to eligible clients. The firm also provides access to thematic crypto exchange-traded funds and third-party spot Bitcoin ETFs, building a comprehensive digital asset ecosystem. Prior momentum signals strong retail interest: in April 2025, CEO Rick Wurster reported that Schwab's crypto-focused website experienced a 400% traffic increase, with 70% of visitors representing new prospects rather than existing brokerage clients—suggesting substantial untapped demand beyond the firm's current customer base.
The pricing structure charges clients 0.75% on the dollar value of each crypto transaction with no additional spread, establishing a clear fee-based model distinct from competitors. Fidelity, by contrast, operates a commission-free structure that monetizes through spread-based pricing. Schwab's fee places it above zero-commission platforms like Robinhood but reflects a straightforward, transparent pricing approach aligned with its broader retail trading strategy.
Beyond spot trading, Schwab expanded its crypto product suite by adding 24/7 futures trading for Bitcoin, Ether, Solana, and XRP through its thinkorswim platform in June 2026, available to eligible clients. The firm also provides access to thematic crypto exchange-traded funds and third-party spot Bitcoin ETFs, building a comprehensive digital asset ecosystem. Prior momentum signals strong retail interest: in April 2025, CEO Rick Wurster reported that Schwab's crypto-focused website experienced a 400% traffic increase, with 70% of visitors representing new prospects rather than existing brokerage clients—suggesting substantial untapped demand beyond the firm's current customer base.
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