Charles Schwab, the brokerage giant managing nearly $12 trillion in client assets, confirmed Friday that it will launch spot Bitcoin and Ether trading in the first half of 2026. The service will operate through Charles Schwab Premier Bank, SSB, its regulated banking subsidiary.

From ETFs to Direct Trading

Until now, Schwab clients could only access crypto indirectly through ETFs, futures contracts, and thematic funds like its Schwab Crypto Thematic Index ETF (STCE). The new "Schwab Crypto" account will allow users to buy and sell BTC and ETH directly within the existing brokerage interface, with no separate wallet or third-party exchange needed.

The company has opened a waitlist for early access and plans a phased rollout: employees first, then invited clients, then general availability.

Why It Matters

Schwab's entry into spot crypto is the biggest TradFi-to-crypto bridge yet. Its client base dwarfs every crypto-native exchange combined. For millions of retail investors and advisors who already use Schwab for stocks and bonds, crypto will now sit in the same portfolio view, dramatically lowering the friction of entry.

CEO Rick Wurster first signaled the move in mid-2025, framing it as a direct response to client demand and a competitive challenge to Coinbase, Robinhood, and Webull. The timing aligns with a broader shift in U.S. regulatory posture under the current administration, which has opened space for traditional financial institutions to embrace digital assets more aggressively.

The launch positions Schwab as the largest traditional brokerage to offer direct crypto trading in the United States.