Charles Schwab’s Bitcoin and Ethereum rollout shows crypto is moving deeper into mainstream brokerage accounts

Charles Schwab is launching “Schwab Crypto,” enabling qualifying clients to directly buy and sell Bitcoin and Ethereum through a dedicated account with its bank subsidiary, Schwab Premier Bank. This move, available in most US states except New York and Louisiana, marks a significant shift as it brings direct crypto ownership into a mainstream brokerage environment. The rollout follows the resolution of key regulatory hurdles in early 2025, including rescinded and reaffirmed guidance from the SAB, OCC, and Federal Reserve, which made crypto custody more attractive for traditional banks. Schwab’s strategy targets existing investors who want to add a small crypto allocation to their portfolios, rather than a crypto-native audience. The company anticipates that even modest adoption rates – between 0.5% and 2% – could result in hundreds of thousands of direct crypto holders. This move positions Schwab as a key player in normalizing crypto as an asset class alongside traditional investments, following a similar path taken by Fidelity and with E*TRADE and Morgan Stanley also planning direct crypto trading options.

(Source：CryptoSlate)