Charles Schwab launches crypto trading for 39 million clients

A new Wall Street giant has just crossed a threshold many were waiting for, without really believing it. Now, crypto is no longer confined to specialized platforms and insiders. It directly invades classic portfolios, at the heart of financial institutions. This movement is not trivial, as it marks a profound shift in the way of investing and perceiving value.

Schwab opens the door, and crypto enters without knocking

First, Charles Schwab launches a clear and straightforward offensive on the crypto market. The Schwab Crypto service allows buying bitcoin and Ethereum directly from a classic account. Then, the integration is total, as crypto assets appear alongside stocks and bonds.

Indeed, Schwab no longer segments the user experience and breaks the historical boundaries of the crypto market. Fees are set at 0.75%, positioning the offer competitively against existing platforms. Moreover, asset custody is handled internally, which strengthens the trust of traditional investors.

Additionally, the infrastructure relies on Paxos for transaction execution, remaining invisible to the end user. Thus, Schwab simplifies access to crypto without exposing the technical complexity that still hinders some investors.

We know our clients want to manage a larger part of their financial lives at Schwab. With Schwab Crypto, clients who want direct access to this asset class can trade it alongside their other investments, while enjoying the service, education, and research they expect from us.

Jonathan Craig, head of retail investment at Charles Schwab

Behind the offer, Schwab plays a much bigger game

Next, Schwab does not just follow the crypto market trend, it anticipates a shift in usage. In reality, many clients already hold crypto assets elsewhere, outside their main portfolio.

Thus, Schwab aims to recover this dispersed share and refocus financial flows within its ecosystem. The internal study is clear: investors value price transparency, security, and reputation. This triptych exactly matches the DNA of major Wall Street institutions.

Consequently, crypto gradually becomes a financial product like any other, integrated into a global wealth logic. This movement reduces the gap between traditional investors and crypto market users.

What we hear from many clients is that they have 98% of their wealth here at Schwab, and that they may hold 1% or 2% with a native digital platform for their crypto, but they really want to bring it back to Schwab because they trust us and want it held alongside their other assets.  

Rick Wurster, CEO of Charles Schwab

Wall Street accelerates, and crypto definitively changes scale

Finally, Schwab’s initiative is part of a global transformation of the crypto and financial industry. Morgan Stanley, Goldman Sachs, and Fidelity are also advancing in this strategic area.

Moreover, crypto platforms like Coinbase or Kraken are expanding their offer toward traditional markets. This convergence shows that the border between classic finance and cryptocurrencies is gradually disappearing.

Indeed, Schwab manages more than 11 trillion dollars of assets, which amplifies the impact of this decision. When such an actor normalizes crypto, the market changes status and gains legitimacy.

Key milestones of the shift

• Schwab opens crypto trading to 39 million clients in the coming weeks;
• Fees set at 0.75%, positioned below Coinbase but above some competitors;
• Bitcoin and Ethereum represent nearly three quarters of the global market;
• Schwab manages more than 11 trillion dollars of client assets;
• BTC price at the time of writing: 74,637 dollars.

The crypto market evolves rapidly, and not all actors play the same tune. Some prioritize extreme simplicity, like ChangeNOW, which offers instant exchanges without accounts or custody. Thus, investors arbitrate between the power of Wall Street and the agility of decentralized solutions. Two visions now coexist, each charting its own path in the crypto universe.