- Charles Schwab opens waitlist for crypto trading
- Launch expected in Q2 2026 with limited rollout
- Will offer direct BTC and ETH trading
- Service initially restricted in some U.S. states
A major TradFi player enters crypto
Charles Schwab is preparing to launch direct bitcoin and ether trading through a new “Schwab Crypto” account.
The rollout will begin with a limited group of users in Q2, with broader access expected later in the year.
How the product will work
The service will be offered through Schwab’s banking arm rather than its brokerage platform. Users will need an existing Schwab account to access it.
At launch, the platform will not support crypto deposits or withdrawals, meaning users cannot transfer assets from external wallets.
Restrictions and limitations
The product will not be available in certain states, including New York, reflecting ongoing regulatory complexity in the U.S.
Additionally, crypto assets held through the platform will not have traditional protections such as FDIC insurance.
Why this matters
Schwab manages over $12 trillion in assets, making this one of the most significant entries of a traditional financial giant into crypto.
Its move signals growing demand from mainstream investors and could increase competition with existing crypto-native platforms.
