[DigitalToday reporter Yoonseo Lee (이윤서)] U.S. brokerage Charles Schwab has started spot trading services in bitcoin and ethereum for U.S. retail clients.

On May 13 local time, blockchain media outlet Cryptopolitan reported that Charles Schwab enabled eligible investors to trade bitcoin and ethereum directly through its new platform, Schwab Crypto. It described the two as the largest cryptocurrencies by market capitalisation.

The service is not fully separate from existing brokerage accounts. Clients must open a separate cryptocurrency account linked to their existing brokerage account. Through this, Charles Schwab has added a route to buy spot cryptocurrencies after stocks and bonds, based on more than 39 million client accounts.

Charles Schwab Premier Bank will handle digital asset custody. Blockchain infrastructure company Paxos, regulated by the U.S. Office of the Comptroller of the Currency, will support trade execution. Trading fees are 75 basis points, or 0.75 percent of the transaction amount. As of launch, the service began across the United States except New York and Louisiana.

Customer research was reflected in the service design. Charles Schwab said it surveyed about 500 current and potential cryptocurrency investors from July to September 2025, and that brand trust, low and transparent pricing, and asset security were cited as key criteria for choosing a trading platform. It said it built the spot trading platform to match those three elements.

The launch is also seen as a shift in Charles Schwab's cryptocurrency strategy. Until now, its cryptocurrency exposure has remained in indirect products such as spot bitcoin and ethereum exchange-traded funds (ETFs), options on those ETFs, cryptocurrency futures and related mutual funds. The company said its clients hold about 20 percent of cryptocurrency exchange-traded products (ETPs) in the market.

Charles Schwab is now expanding from indirect investing to support for direct holdings. Joe Vietri (조 비에트리), head of digital assets, said the goal is to become a "destination where retail investors looking to add digital assets to their portfolios can choose with confidence." Charles Schwab plans to increase the number of supported cryptocurrencies in the near term and, over the longer term, support deposits and withdrawals of digital assets already held.

Market conditions are also aligning with Charles Schwab's moves. As traditional financial firms continue to expand their cryptocurrency businesses, a significant number of major U.S. financial institutions are reported to already offer bitcoin-related services or be preparing to introduce them. Morgan Stanley has recently started cryptocurrency trading on its E-Trade platform, and Goldman Sachs has applied for a bitcoin premium income ETF.

Changes in the regulatory environment are also a variable. The U.S. Congress is nearing a final agreement on the CLARITY bill, which sets a cryptocurrency regulatory framework. If the bill is finalised, the competitive landscape among traditional financial firms entering the cryptocurrency market, like Charles Schwab, could change. As a result, Charles Schwab's expansion of spot trading and its timeline for supporting additional assets are expected to become new competitive points in the U.S. retail cryptocurrency market.

Schwab Crypto accounts are now being rolled out to retail clients. Starting today, the first group of clients can trade Bitcoin and Ethereum at Schwab, right alongside their other investments. Sign up for updates and a chance to get early access: https://t.co/ELe1HWHS8Y pic.twitter.com/HJKbPUD7Ob