One of America’s Largest Brokers Steps Into the Digital Asset Market
On May 13, 2026, Charles Schwab — one of the most well-known financial brokerages in the United States — officially launched its own cryptocurrency trading platform. Under the Schwab Crypto brand, American retail clients can now buy and sell Bitcoin and Ethereum directly, without leaving their familiar brokerage interface.
The move marks a significant moment in the history of traditional finance: a company long associated with stocks and bonds has given its clients direct access to the spot cryptocurrency market for the first time.
Scale and Details of the Launch
Schwab serves approximately 39 million brokerage accounts and manages around $12 trillion in client assets. The new service charges a fee of 0.75% per transaction, with Paxos — a specialized crypto custodian — handling the safekeeping of digital assets.
Joe Vietri, Schwab’s Head of Digital Assets, stated that the company’s goal is to become “the destination of choice for retail investors who want to incorporate digital assets into their portfolios with confidence.” The company plans to gradually expand the list of supported cryptocurrencies, and eventually allow clients to deposit and withdraw digital assets they already hold elsewhere.
It is worth noting that, even before this launch, Schwab clients already had indirect exposure to crypto through ETFs, futures, and thematic funds. By some estimates, they hold roughly 20% of all spot crypto ETF volume in the U.S. market.
Traditional Finance Turns Toward Crypto
Schwab’s launch is not an isolated event, but part of a broader trend. Around the same time, Morgan Stanley opened crypto trading on its ETrade platform, while Goldman Sachs filed to register a new Bitcoin-focused ETF. According to available data, roughly 60% of the largest U.S. banks either already offer Bitcoin-related services or are preparing to do so.
Simultaneously, Congress continues its work on the CLARITY Act, which aims to establish unified rules for regulating the cryptocurrency market. Analysts suggest that the passage of this legislation could significantly reshape the competitive landscape for financial firms entering the crypto space.
Context: The Market Remains Under Pressure
Despite the wave of institutional activity, the broader crypto market was going through a difficult stretch in mid-May. Bitcoin fell from around $80,300 to approximately $77,000 over the course of the week, with the Fear & Greed Index deep in “Fear” territory at 28. Ethereum traded near $2,124, still unable to break through key resistance at $2,400.
Nonetheless, analysts view the arrival of players like Schwab as evidence that long-term institutional interest in digital assets remains intact, regardless of short-term price fluctuations.
