Schwab Crypto launches spot Bitcoin and Ethereum trading for select retail clients

Charles Schwab has begun rolling out Schwab Crypto, allowing eligible retail clients to trade spot Bitcoin and Ethereum alongside traditional investments. The service, which charges a 0.75% fee per trade, is available on Schwab platforms but excludes clients in New York, Louisiana, U.S. territories, and international markets. Charles Schwab Premier Bank acts as custodian, while Paxos handles trade execution and sub-custody. This launch intensifies competition in retail crypto trading as firms like Morgan Stanley expand crypto offerings at lower fees.