Charles Schwab Entry into Spot Crypto Shifts Retail Custody Competition
TV
Talia Vaughan
Charles Schwab · Apr 17, 2026
Source: DojiDoji Data Terminal
Retail investors can now consolidate their cryptocurrency holdings within a single institutional brokerage ecosystem. Charles Schwab is rolling out Schwab Crypto, a service that allows eligible retail clients to trade spot Bitcoin and Ethereum directly through Schwab.com, the mobile app, and the thinkorswim platform.
To access the service, clients must open a separate crypto account through Charles Schwab Premier Bank, which links directly to their existing brokerage accounts. This integration allows investors to view their digital assets alongside traditional stocks and ETFs in one portfolio view. Each transaction carries a flat fee of 0.75%, a rate that sits below Fidelity Crypto’s 1% fee.
Charles Schwab Premier Bank serves as the primary custodian for client digital assets, handling safekeeping and record-keeping. Paxos, an OCC-regulated blockchain infrastructure provider, provides the sub-custody and trade execution services.
Schwab's move follows a pattern of client demand; the firm noted that its clients already hold approximately 20% of all spot crypto exchange-traded products. The launch is phased, with clients in New York, Louisiana, and several other jurisdictions excluded from the initial rollout due to state-level regulatory restrictions. Retail investors can consolidate crypto holdings within a single institutional brokerage ecosystem.
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