Overview
- Schwab confirmed a phased Q2 2026 rollout of a new service called Schwab Crypto operated by Charles Schwab Premier Bank, with an early-access waitlist now open.
- Trading will start with only Bitcoin and Ethereum, and Schwab has not yet disclosed pricing or fees.
- Clients will use a separate bank-linked account rather than their brokerage accounts, and crypto held there will not carry investor or deposit insurance.
- The launch will begin with employee testing, then a small invite-only group, and it will exclude New York and Louisiana at first, with not all applicants qualifying.
- With 38.9 million accounts and $12.22 trillion in assets, Schwab’s reach could pressure crypto-native exchanges, and reporting ties the timing to looser SEC and Federal Reserve guidance.