Overview
- Schwab launched retail spot trading for Bitcoin and Ethereum in May 2026 through Charles Schwab Premier Bank using Paxos for execution and sub‑custody, charging a fixed 0.75% transaction fee with no spread.
- Jalina Kerr of Schwab Advisor Services said the firm is targeting a mid‑2027 launch of advisor-facing spot trading, in‑kind transfers, and custody but stressed the timeline and final product details remain subject to change.
- The planned advisor product will support in‑kind transfers so advisors can move client crypto from external wallets or exchanges into Schwab custody without liquidating positions.
- Schwab built its own internal transaction and record‑keeping ledger rather than white‑labeling third‑party infrastructure, a choice intended to retain operational control and meet broker‑dealer and bank custody rules.
- Key details are still unresolved — including advisor pricing, which assets will be supported, transfer limits, and how regulatory and cash‑movement rules will be handled — but the scale of Schwab’s $10–12 trillion platform means the rollout could shift large pools of advisor‑managed wealth into regulated crypto custody.