Charles Schwab launches bitcoin and ethereum spot trading for retail clients, with client assets of $13.1 trillion
2026-08-13 09:01
Odaily Planet Daily News US financial services company Charles Schwab began rolling out bitcoin and ethereum spot trading to retail clients in phases on May 13, 2026, with a per-trade fee rate of 75 basis points. The company disclosed client assets of $13.1 trillion, with 39.8 million brokerage accounts, and Paxos is responsible for execution and sub-custody.
During the July earnings call, Charles Schwab said the related business is progressing as planned, and launched a crypto asset transfer pilot, while also taking a stake in Paxos. Initially, only bitcoin and ethereum are supported, with no deposits or withdrawals available, and no SIPC protection, except in New York and Louisiana.
Charles Schwab clients already hold approximately $25 billion in crypto ETPs. Morgan Stanley's E*Trade launched bitcoin, ethereum, and Solana trading via Zerohash on July 16, with a fee rate of 50 basis points; Fidelity's fee rate is 1%, and Coinbase's implied consumer trading fee rate is approximately 1.75%. (Forbes Digital Assets)
During the July earnings call, Charles Schwab said the related business is progressing as planned, and launched a crypto asset transfer pilot, while also taking a stake in Paxos. Initially, only bitcoin and ethereum are supported, with no deposits or withdrawals available, and no SIPC protection, except in New York and Louisiana.
Charles Schwab clients already hold approximately $25 billion in crypto ETPs. Morgan Stanley's E*Trade launched bitcoin, ethereum, and Solana trading via Zerohash on July 16, with a fee rate of 50 basis points; Fidelity's fee rate is 1%, and Coinbase's implied consumer trading fee rate is approximately 1.75%. (Forbes Digital Assets)
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