U.S. brokerage Charles Schwab has begun offering spot trading in bitcoin and ethereum to U.S. retail clients through a new platform, Schwab Crypto, for eligible investors. Clients must open a separate crypto account linked to their existing brokerage account. Charles Schwab Premier Bank will provide custody, while Paxos supports trade execution under U.S. Office of the Comptroller of the Currency oversight. Fees are 75 basis points, or 0.75 percent. The service launched nationwide except in New York and Louisiana.

U.S. asset manager Charles Schwab released guidance on cryptocurrency investing ahead of launching bitcoin and ether trading services. In an explanatory video, it said managing volatility is key when adding digital assets to a portfolio and that investors should focus on the amount of risk added rather than expected returns. Schwab suggested bitcoin exposure of about 2.7 percent for conservative investors and about 6.9 percent for more aggressive investors.