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Bitcoin was trading near $78,100 and ether around $2,320 on Wednesday as Charles Schwab began phasing in direct spot trading of both coins inside a brokerage platform that already holds $11.9 trillion in client assets.
The rollout, first detailed publicly on April 16 by Nate Geraci, host of the ETF Prime podcast, is being framed as the most significant retail on-ramp for spot crypto trading since the SEC cleared spot bitcoin ETFs two years ago. It also comes with a 75-basis-point pricing component, prompting Bloomberg’s senior ETF analyst to advise most clients to keep buying ETFs rather than switching to direct spot exposure.
Schwab said spot crypto trading will begin rolling out in the coming weeks, Geraci posted on X on April 16, citing Schwab’s launch notice. The plan allows direct trading in bitcoin and ether, with pricing set at 75 bps on the dollar value of each trade. Schwab also indicated it plans to add additional crypto assets over time.
Geraci’s post drew roughly 95,000 views, according to X metrics, and helped set the tone for the week’s reaction across crypto-focused social media.
P2P.org, an institutional staking firm, described Schwab’s move as a distribution event rather than a product launch. In a post dated April 21, the firm said Schwab’s advisor network can now include digital assets in client portfolios using the same custody, reporting, and compliance infrastructure.
Additional coverage around the announcement emphasized Schwab’s scale. The Bitcoin Archive podcast noted that Schwab is launching direct bitcoin and ethereum trading and highlighted the firm’s size, citing Schwab’s Q4 2025 disclosures that put client assets at $11.9 trillion.
Schwab reported 38.5 million active brokerage accounts in its Q4 2025 earnings release. Under the plan, direct spot crypto is positioned alongside stocks and bonds in the same dashboard used by existing clients.
Custody for crypto held through Schwab runs through Charles Schwab Premier Bank, while execution is handled by Paxos. The material also notes that crypto held through Schwab is not covered by FDIC deposit insurance or SIPC protection.
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