America’s leading bank, Charles Schwab, has officially launched Bitcoin (BTC) and Ethereum (ETH) trading on the Schwab Crypto platform through Charles Schwab Premier Bank.
The phased rollout will begin with an internal service pilot, followed by a standby pilot, followed by expansion in Q2, 2026, and beyond. New York and Louisiana are not currently on the list.
Charles Schwab brokerage unveils BTC and ETH trading
Today’s announcement follows on from earlier this month. Charles Schwab is now planning to integrate more cryptocurrencies and AI tools to meet the needs of the industry, while consolidating its sources of income.
Currently, the Texas-headquartered firm has $1.48 trillion in assets under management (AUM), and more than 46 million accounts managed by 16,000 advisors.
Aside from its high-profile crypto trading, Charles Schwab released its Q1 2026 earnings report today. Its total revenue grew 16% year-over-year to $6.48 billion, slightly missing expectations of $6.50 billion. This resulted in a 7.73% loss (NYSE:SCHW) for the day, with the stock trading at $92.53 at the time of writing.
Source: MarketWatch
Crypto is a corporation
That said, Bitcoin rallied over $75K today, thanks to a surge in ETF inflows and the prospect of a US-Iran war end. Meanwhile, Ethereum was trading at $2,357 (down 0.75%) due to an increase in strong selling after the long Ethereum whale took about $59M (120,000 ETH) in profit.
Source: CoinMarketCap price
Today’s development places Charles Schwab as a serious opponent of Robinhood and others, due to its large AUM, and competitive fees – 0.75% compared to Fidelity Crypto’s 1%.
However, Robinhood has a fighting edge as it offers more than 15 currencies, has access beyond the US (in the EU and Asia-Pacific), and allows foreign wallet transfers.
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