Charles Schwab announced this week it will begin offering direct cryptocurrency trading to everyday investors in the coming weeks, allowing customers to buy and sell bitcoin and ethereum alongside their traditional investments.
The new service, called Schwab Crypto, will charge 75 basis points on the dollar value of each trade, positioning itself among the lowest-cost options in the industry. Customers will be able to view and manage their digital assets next to stocks and bonds across Schwab’s website, mobile app, and thinkorswim trading platform.
“We know our clients want to conduct more of their financial lives at Schwab,” said Jonathan Craig, Head of Retail Investing at Charles Schwab. “With Schwab Crypto, clients who want direct access to the asset class can trade it alongside their other investments, while benefiting from the service, education, and research they expect from us.”
The brokerage surveyed nearly 500 current and prospective cryptocurrency investors between July 31 and September 1, 2025. Respondents identified three key factors when choosing where to trade digital assets: low and transparent pricing, brand familiarity and reputation, and confidence that their holdings would remain secure.
Schwab will start with bitcoin and ethereum, which together represent approximately three-quarters of the cryptocurrency market value. The firm plans to add more digital currencies over time and will eventually allow customers to transfer crypto they already own into their Schwab accounts.
Charles Schwab Premier Bank will serve as custodian, responsible for safekeeping and record-keeping of customer assets. Paxos, a blockchain infrastructure provider regulated by the Office of the Comptroller of the Currency, will handle sub-custody and trade execution behind the scenes.
The service will include educational materials from the Schwab Center for Financial Research and crypto-focused content through Schwab Coaching to help investors understand how digital assets fit into broader investment strategies. Customers will also have access to Schwab’s 24/7 support from service professionals by phone or chat.
Schwab already leads in cryptocurrency-related investments, with clients holding approximately 20% of spot crypto exchange-traded products. The firm also offers crypto futures, options on spot crypto ETPs, and crypto-related ETFs and mutual funds.
Wall Street competitors join the crypto land grab
Morgan Stanley is taking similar steps with its ETrade platform, as reported by Cryptopolitan previously. The bank will partner with Zerohash to provide the infrastructure for trading, which is expected to go live in the first half of 2026. ETrade customers will initially be able to trade bitcoin, ethereum, and solana.
Jed Finn, Morgan Stanley’s head of wealth management, called it a “transformative moment” for the industry. “Offering clients the ability to trade crypto is the tip of the iceberg,” Finn told CNBC, explaining that the firm ultimately plans to build a full wallet solution for custody and tokenization of assets.
The competitive pressure is real. Robinhood pulled in more than $600 million from crypto trading last year, accounting for about one-fifth of its total revenue.
Goldman Sachs filed an application Monday for a Bitcoin Premium Income exchange-traded fund, marking one of the bank’s first direct moves into cryptocurrency investment products. The proposed fund would give investors exposure to bitcoin while generating income through selling options tied to bitcoin-linked ETPs. This strategy collects premiums in exchange for capping some upside during strong rallies.
BlackRock is preparing to launch a similar product called the iShares Bitcoin Premium Income ETF, trading under the ticker BITA. An updated regulatory filing earlier this month showed BlackRock refining the fund’s structure, with analysts expecting a launch within weeks.
Congress nears agreement on crypto regulation
The rush by major financial firms comes as Congress appears close to passing the Digital Asset Market Clarity Act, which would establish comprehensive federal rules for cryptocurrency. JPMorgan sources told CoinDesk that negotiations have entered a late stage, with most disputes resolved and only two or three issues remaining under discussion.
The bill would formalize how oversight gets divided between the Securities and Exchange Commission and the Commodity Futures Trading Commission while defining how tokens, stablecoins, and decentralized finance platforms fit within existing financial law.
Treasury Secretary Scott Bessent and other officials have urged Congress to act, warning that delays risk pushing innovation and capital to foreign markets with clearer rules.