Charles Schwab to launch direct spot trading for Bitcoin and Ether in the first half of 2026

Charles Schwab has confirmed it remains on track to launch direct spot trading for Bitcoin and Ether in the first half of 2026, using its Charles Schwab Premier Bank unit. The move is designed to open one of the largest pools of investor capital to direct crypto access for the first time.

Schwab confirms timing and structure

A Schwab spokesperson said the firm “remains 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.

What clients will be able to trade

Clients will be able to trade Bitcoin and Ether directly within their standard brokerage accounts, without using a separate wallet or a third-party exchange. Schwab will process orders internally.

The rollout is expected to be phased, beginning with internal employee testing, followed by invited clients, before full public availability. Early access is currently limited to U.S. residents, excluding New York and Louisiana. Schwab has also opened a waitlist for early access.

Scale of Schwab’s client base

Schwab manages nearly $12.2 trillion in client assets across approximately 46 million brokerage accounts. CEO Rick Wurster first signaled the move in mid-2025 and later confirmed a phased Q2 rollout in March 2026 remarks to Barron’s.

Market context at the time of the announcement

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

Regulatory and demand drivers

Schwab said it has been working toward direct spot crypto trading for several years, citing regulatory uncertainty as the primary obstacle. The path, according to the reporting, has improved as the Trump administration rolled back SEC accounting restrictions and the Federal Reserve loosened bank crypto guidelines.

Schwab reported a 400% increase in traffic to its crypto site in 2025, with 70% coming from non-clients, which it framed as evidence of untapped demand.

Implications for traditional and crypto trading

Analysts have suggested 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.

How this fits with Schwab’s existing crypto offerings

Schwab already offers cryptocurrency-linked ETFs, Bitcoin futures contracts, and the Schwab Crypto Thematic Index ETF. Spot trading is positioned as the next step in what Schwab describes as a deliberate, regulated build-out.

CEO Rick Wurster said the company is “ready to compete in spot Bitcoin and Ethereum trading,” a statement that carries weight given Schwab’s 46 million brokerage relationships and potential distribution advantage.