America’s top brokerage firm, Charles Schwab, has officially rolled out trading for Bitcoin (BTC) and Ethereum (ETH) on the Schwab Crypto platform through the Charles Schwab Premier Bank.
The phased launch will begin with an internal employee pilot, followed by a client waitlist pilot, followed by deeper expansion throughout Q2, 2026, and beyond. New York and Louisiana are currently exempt from the service.
Charles Schwab brokerage unveils BTC and ETH trading
Today’s announcement is a follow-up to the one that happened earlier this month. Charles Schwab now plans to integrate more cryptocurrencies and AI tools to cater to industry demand, while diversifying its revenue sources.
At present, the Texas-headquartered firm boasts about $1.48 trillion in assets under management (AUM), and up to 46 million active brokerage accounts managed by 16,000 advisors.
Aside from its flagship crypto product, Charles Schwab released its Q1 2026 earnings report today. Its net revenue grew 16% year-over-year to a record $6.48 billion, slightly missing the $6.50 billion expectation. This caused a 7.73% drop in its stock (NYSE: SCHW) on the day, with the stock trading at $92.53 at the time of writing.
Source: MarketWatch
Crypto and institutions
That said, Bitcoin tapped $75K today, due to heightened demand in spot ETF inflows and hopes of a US-Iran ceasefire. Meanwhile, Ethereum was trading at $2,357 (down 0.75%) due to heightened selling pressure after an Ethereum long whale took out about $59M (120,000 ETH) in profit.
Source: CoinMarketCap
Today’s development places Charles Schwab as a formidable rival to Robinhood and others, because of its larger AUM, and competitive fees – 0.75% as compared to Fidelity Crypto’s 1%.
Still, Robinhood has a fighting edge since it offers over 15 cryptocurrencies, has a broader reach beyond the US (in the EU and Asia-Pacific), and allows external wallet transfers.
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