Charles Schwab Launches Spot BTC/ETH Trading for 35M Retail Clients; SCHW at $90
Original: Charles Schwab Launches Crypto Trading For Retail Investors View original →
Charles Schwab ($SCHW), the brokerage managing $12 trillion in U.S. client assets and serving 35 million retail accounts, launched spot cryptocurrency trading on May 13, 2026 through a new platform called "Schwab Crypto." Retail investors can now buy and sell Bitcoin (BTC), Ethereum (ETH), and other digital assets directly through their existing Schwab brokerage accounts — the firm's first spot crypto access beyond ETFs and futures.
The move positions Schwab in direct competition with Coinbase Global ($COIN) and Robinhood Markets ($HOOD). With 35 million clients and a brand trusted by mainstream buy-and-hold investors, Schwab's entry could accelerate the structural shift of retail crypto activity away from dedicated exchanges toward traditional brokerage platforms. SCHW shares traded at $90.18 at time of writing.
The launch follows a broader pattern of Wall Street institutions integrating cryptocurrency into core offerings. On the same day, JPMorgan Chase filed with the SEC for its OnChain Liquidity-Token Money Market Fund (JLTXX) — a tokenized U.S. Treasury product deployed on the Ethereum network via Kinexys Digital Assets (formerly JPMorgan Onyx). The tokenized real-world asset (RWA) market has grown more than 200% over the past year, exceeding $32 billion. BlackRock also filed for a tokenized Treasury reserve vehicle days prior.
The competitive pressure on Coinbase is notable: if major brokerages absorb retail crypto trading volume natively, Coinbase's fee revenue — historically its core profit driver — faces structural erosion. Robinhood similarly faces reduced incentive for younger retail investors to maintain separate crypto accounts.
What to watch next: customer adoption rates within Schwab's platform over the next two quarters, any comparable moves from Fidelity's retail brokerage, and whether traditional custodian banks seek similar regulatory approvals.
Not investment advice. Verify all figures with primary sources before acting.
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