Charles Schwab, managing nearly $12 trillion in client assets across 46 million accounts, announced plans to launch direct Bitcoin and Ethereum trading through a new Schwab Crypto account by the end of Q2 2026, with early access subscriptions now available. CEO Rick Wurster stated the offering will initially reach a limited group of clients this quarter before broader expansion, marking a significant step beyond the firm's existing crypto ETF, crypto stock, and futures products. The move comes as Schwab-backed EDX Markets seeks a national bank charter from the OCC, with EDX leadership arguing such charters will be critical for enabling large banks to enter crypto markets. The announcement positions Schwab alongside competitors like Morgan Stanley, which plans to offer Bitcoin, Ethereum, and Solana trading through E*TRADE, as traditional finance giants race to capture the growing institutional demand for direct cryptocurrency exposure.
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