Schwab Preps Spot Bitcoin and Ether Trading Across $12 Trillion in Client Assets

Charles Schwab has confirmed it remains on track to launch direct spot trading for Bitcoin and Ether in the first half of 2026, opening one of the largest pools of investor capital in the world to direct crypto access for the first time.

A Schwab spokesperson confirmed to multiple outlets: “We remain on track to launch our spot crypto offer in the first half of 2026, starting with bitcoin and ether.” The service, branded as “Schwab Crypto,” will be operated through Charles Schwab Premier Bank, SSB — a regulated banking subsidiary.

Clients will trade Bitcoin and Ether directly within their standard brokerage accounts, without a separate wallet or third-party exchange. Schwab will process orders internally. The rollout will be phased: internal employee testing first, followed by invited clients, before full public availability. Early access is currently limited to U.S. residents, excluding New York and Louisiana.

Yahoo Finance reports that Bitcoin was trading near $66,864 at the time of the announcement, down approximately 47% from its all-time high of $126,080. Ether changed hands near $2,052, roughly 59% below its August 2025 peak.

TradFi Moves In

Schwab has been working toward this moment for several years, citing regulatory uncertainty as the primary obstacle. With the Trump administration rolling back SEC accounting restrictions and the Federal Reserve loosening bank crypto guidelines, the path cleared. Schwab reported a 400% increase in traffic to its crypto site in 2025, with 70% coming from non-clients — a signal of untapped demand the firm is now moving to capture.

The competitive implications for the crypto exchange landscape are significant. Analysts have noted that Schwab’s scale could allow it to undercut competitors on fees, potentially reshaping the retail crypto trading market. Morgan Stanley is also preparing a comparable launch through its E*TRADE platform. Schwab has additionally indicated plans to introduce a stablecoin product following the passage of the GENIUS Act.

Market Relevance

The firm already offers cryptocurrency-linked ETFs, Bitcoin futures contracts, and the Schwab Crypto Thematic Index ETF. Spot trading is the next step in a deliberate, regulated build-out. CEO Wurster said the company is “ready to compete in spot Bitcoin and Ethereum trading,” a statement that carries weight given Schwab’s 46 million existing brokerage relationships — a potential distribution advantage that no crypto-native exchange can replicate.