Charles Schwab Launches Spot Bitcoin Trading Platform for Retail Investors in the U.S.

Charles Schwab, one of the largest brokerage firms in the United States, has officially launched spot bitcoin trading for eligible retail clients through its new platform, Schwab Crypto.

The announcement, made on Tuesday, marks a significant expansion of cryptocurrency access within the company’s existing brokerage ecosystem. Unlike previous offerings that were limited to exchange-traded funds (ETFs), futures, and other indirect investment products, the new platform enables customers to buy and sell spot bitcoin directly.

Schwab’s rollout follows plans first outlined last year and confirmed in April. The company previously restricted crypto exposure to indirect products, but the new platform provides a dedicated crypto account linked to a client’s Schwab brokerage profile.

Key details of the launch:

• Custody: Charles Schwab Premier Bank will serve as the custodian for client bitcoin holdings.
• Trade execution and sub-custody: Paxos will handle trade execution and sub-custody services.
• Trading fee: A 75-basis-point fee applies to all spot bitcoin trades.
• Availability: The service is accessible in every U.S. state except New York and Louisiana.
• Eligibility: Some clients may not qualify for access during the initial phase of the rollout.

The launch positions Schwab among a growing number of traditional financial institutions expanding into digital assets. As of the end of March, the company reported $11.77 trillion in client assets and 39.1 million active brokerage accounts, providing the new platform with a vast potential user base.

Broader Shift in Traditional Finance Toward Bitcoin

The move reflects a broader trend among major financial institutions integrating digital assets into mainstream investment products and services. This shift has accelerated following the approval of spot bitcoin ETFs and increasing demand from both retail and institutional clients.

Recent data highlights the growing institutional adoption of bitcoin:

• BlackRock’s IBIT ETF held approximately $54 billion in assets under management by early 2026.
• Institutions disclosed holdings of more than 513,000 BTC through exchange-traded funds, a figure that grew as professional ETF ownership surged 32% across 2025.
• U.S. spot Bitcoin ETF products recorded approximately $2.44 billion in net inflows during April 2026, the strongest monthly total of the year, with nine consecutive trading days of net positive flows extending into May.

Each net inflow results in bitcoin being removed from the open market and delivered to custodians, a dynamic analysts say is creating structural price support independent of speculative trading activity.

Banking Sector’s Growing Embrace of Bitcoin

The banking sector’s posture toward bitcoin has also evolved significantly. According to research from River, nearly 60% of the largest U.S. banks either offer bitcoin-related services or plan to do so. Major institutions such as JPMorgan, Goldman Sachs, Morgan Stanley, and Citi have expanded their crypto offerings in recent months.

Morgan Stanley has signaled ambitions to operate as a full crypto bank, while Goldman Sachs filed an application for a Bitcoin Premium Income ETF. Citi, meanwhile, launched an institutional custody initiative. Wall Street analysts describe these moves as reflecting a structural, compliance-driven integration of bitcoin into traditional finance, rather than a tactical hedge.