Charles Schwab Prepares to Launch Spot Crypto Trading for Bitcoin and Ethereum
- Charles Schwab will offer direct spot Bitcoin and Ethereum purchases through Schwab Crypto, operated by its Premier Bank subsidiary.
- CEO Rick Wurster cited a surge in client demand, with Schwab’s March 2026 research characterising Bitcoin as a “matured mainstream asset”.
- The launch follows two regulatory shifts: the SEC’s January 2025 rescission of SAB 121 and the OCC’s March 2025 reaffirmation of crypto custody rights for national banks.
Financial giant and trading firm Charles Schwab will begin offering direct spot Bitcoin (BTC) and Ethereum (ETH) trading through a dedicated banking subsidiary.
This will bring spot crypto access to one of the world’s largest brokerage platforms after two regulatory changes cleared the compliance pathway that had kept traditional financial institutions on the sidelines.
The product, named Schwab Crypto and operated by Charles Schwab Premier Bank, SSB, will launch in a phased approach beginning in Q2 2026.
It will start with an initial cohort of employees and early-access registrants before a broader rollout. A new Schwab Crypto page is live on the platform and accepting early access sign-ups.
The service will be available across all US states except New York and Louisiana.
Related: Bitcoin Treasury Sell-Off Sparks Fears of Crypto Contagion
Regulatory Shifts Opened the Door
Two regulatory actions made the launch viable.
In January 2025, the SEC rescinded Staff Accounting Bulletin 121, the guidance that had required custodians to record client crypto holdings as liabilities on their own balance sheets, a requirement that made crypto custody prohibitively expensive for regulated financial institutions.
Likewise, in March 2025, the Office of the Comptroller of the Currency reaffirmed that crypto custody and stablecoin-related activities are permissible for national banks.
Together, those changes removed the primary compliance and capital barriers that had kept major brokerages from offering direct crypto ownership.
With 38.9 million active brokerage accounts and US$12.22 trillion (AU$17.7 trillion) in client assets, Schwab’s entry represents the largest potential distribution channel for direct crypto ownership in traditional finance.
Schwab Crypto will operate as a separate account distinct from existing brokerage accounts. Clients cannot deposit Bitcoin or Ethereum from external wallets, and crypto assets will not qualify for SIPC or FDIC insurance protection.
Related: Wall Street Eyes Prediction Markets as JPMorgan and Goldman Explore Entry
The post Charles Schwab Prepares to Launch Spot Crypto Trading for Bitcoin and Ethereum appeared first on Crypto News Australia.
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