Charles Schwab has made its digital asset trading service available to all eligible retail clients in the United States, allowing them to buy and sell bitcoin and ethereum through the financial firm's platform. The company is also introducing transfer of digital assets.

CEO Rick Wurster announced the expansion during Schwab's earnings call on October 15. He described digital assets trading as a new source of transaction-based revenue for the company.

“All clients can now access Schwab Crypto. We are rolling out the ability for clients to transfer their crypto holdings to Schwab, and we are launching access to three new coins by the end of the year,” he said.

Schwab manages more than $13 trillion in client assets and serves millions of investors. By offering direct bitcoin trading, the brokerage aims to attract customers who want to manage their bitcoin and traditional investments through the same financial institution.

The full rollout follows a limited launch in May 2026, after Schwab opened a waiting list for interested customers in April.

The service currently supports Bitcoin (BTC) and Ethereum (ETH). Eligible customers can buy and sell both digital assets through Schwab without opening a separate account with an exchange.

Schwab charges 0.75% per transaction, with a minimum fee of $1 and a maximum transaction size of $2 million. Its fees fall between those of major competitors. Fidelity Crypto charges 1% per trade, while Morgan Stanley-owned E*TRADE charges 0.50%.

However, the service is not available to just everyone. Customers must meet Schwab's eligibility requirements, and residents of certain states, including New York and Louisiana, cannot currently access it.

Schwab is also gradually introducing digital asset transfers, allowing eligible customers to move supported assets between their Schwab accounts and external wallets.

This is an important addition because the service initially allowed customers to buy and sell bitcoin but did not support transfers to external addresses. Customers must register withdrawal addresses in advance and complete security checks before making transfers. Additional waiting periods may apply.

These requirements give customers more flexibility while allowing Schwab to maintain controls over how bitcoin leaves its platform. The transfer feature is being introduced in stages, so it may not yet be available to every eligible customer.

Although Schwab offers bitcoin trading through its financial platform, it does not directly hold the digital assets in the same way it holds traditional brokerage investments.

Paxos Trust Company provides the infrastructure for bitcoin and ethereum custody, trade execution and settlement. The service operates through Charles Schwab Premier Bank, while digital asset holdings remain separate from conventional brokerage assets.

Schwab also acquired an equity stake in Paxos during the second quarter of 2026, strengthening the relationship between the two companies. Investors should understand that bitcoin held through Schwab does not receive the same protections as stocks or eligible bank deposits.

Digital asset holdings are not protected by the Securities Investor Protection Corporation (SIPC) or the Federal Deposit Insurance Corporation (FDIC). SIPC generally protects eligible securities and cash if a member brokerage fails, while FDIC insurance covers eligible bank deposits.

Neither program protects bitcoin holdings against losses simply because customers access them through Schwab.

Schwab's expansion is not just about offering customers another investment option. It is also part of a broader effort to generate more revenue from its existing customer base.

During the business update, Wurster identified digital asset trading and prediction markets as potential sources of additional transaction-based income.

“We are also expanding into new areas that create additional transactional-based revenue streams that are beneficial to our clients, things like crypto, things like prediction markets,” Wurster said.

The company is also exploring ways to expand its prediction-market services, which allow customers to trade contracts linked to specific events. Schwab has not disclosed how many customers are using its digital asset service or how much revenue it has generated so far.

Still, the brokerage has a significant advantage: an established customer base and an existing investment platform. Customers can access digital asset trading without having to move their entire financial relationship to a dedicated exchange.