Charles Schwab Is About to Let 46 Million Clients Buy Bitcoin Directly

TLDR

• Charles Schwab plans to launch spot Bitcoin and Ethereum trading in the first half of 2026
• The service will be offered through Charles Schwab Premier Bank under the “Schwab Crypto” account
• A waitlist is now open for early access before a wider public rollout
• Schwab manages $11.9 trillion in client assets across around 46 million accounts
• EDX Markets, backed by Schwab, is also applying for a national bank charter from the OCC

Charles Schwab is preparing to let its clients buy and sell Bitcoin and Ethereum directly through a new “Schwab Crypto” account. The rollout is planned for the first half of 2026.

The company confirmed this to CoinDesk on April 3, 2026. A waitlist is already open for customers who want early access.

The service will run through Charles Schwab Premier Bank, SSB. CEO Rick Wurster said a limited group of clients could get access this quarter, with a broader launch to follow.

Wurster first mentioned the crypto trading plans in July last year. He said the goal was to let clients view their crypto alongside stocks and bonds in one account.

Schwab already offers crypto-linked products on its platform. These include crypto ETFs, bitcoin futures, and micro bitcoin futures. It also launched the Schwab Crypto Thematic ETF, which tracks companies connected to the digital asset space.

The new Schwab Crypto account goes a step further by allowing direct ownership of bitcoin and ether. This is different from holding an ETF or futures contract.

A Crowded Race Into Crypto

Schwab is not the only traditional finance firm moving in this direction. Morgan Stanley has also announced plans to offer crypto trading through its E*TRADE platform, including Bitcoin, Ethereum, and Solana.

These moves reflect a broader push by established financial firms to offer crypto directly to their clients. Schwab’s size gives it a large built-in customer base to work with from day one.

The firm reported $11.9 trillion in client assets as of 2025. It has around 46 million client accounts, a pool that could translate into a large number of new crypto investors.

EDX Markets Seeks Bank Charter

EDX Markets, a crypto exchange backed by Schwab, is separately applying for a national bank charter from the Office of the Comptroller of the Currency.

The exchange is looking to follow Ripple and Coinbase, both of which have received conditional approval for trust charter applications.

EDX CEO Tony Acuña-Rohter has said the next wave of crypto adoption will come from large banks. He believes a national trust charter would help EDX serve those banks more effectively.

Schwab’s internal rollout plan calls for staff testing first, then a small client pilot, followed by a wider public launch.

The company has not announced fees or other details for the Schwab Crypto account. The waitlist is currently open on its website.

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