Charles Schwab has begun a phased launch of spot Bitcoin (BTC) and Ethereum (ETH) trading, opening direct crypto access to its retail brokerage clients for the first time.

The product, called Schwab Crypto and operated by Charles Schwab Premier Bank, SSB, will roll out in stages starting in Q2 2026. An initial cohort of employees and early-access registrants will trade first before the platform opens to the firm’s broader client base.

Unlike standalone crypto exchanges, Schwab is embedding digital asset trading within its existing brokerage, banking, and research infrastructure.

Clients will access crypto alongside equities, ETFs, and fixed-income products through a single platform.

Pricing is set at 75 basis points per…