Charles Schwab to Offer Spot Bitcoin & Ethereum in 2026
- Schwab’s 2026 rollout offers spot Bitcoin and Ethereum trading to its $11T client base.
- Q3 results showed $6.1B revenue, 7.4M daily trades, and one million new accounts opened.
- Regulatory clearance and pilot plans support phased full crypto integration in 2026.
Charles Schwab will open spot Bitcoin and Ethereum trading to its $11 trillion client base in the first half of 2026, according to CEO Rick Wurster. He confirmed the plan during Thursday’s third-quarter earnings call after the firm beat Wall Street estimates. The move introduces direct crypto access to retail and institutional investors through an established U.S. brokerage platform.
Earnings Momentum Fuels Rollout
Schwab reported $134.4 billion in total net new assets for the third quarter, a 48% rise from a year earlier. The firm exceeded expectations with $6.1 billion in revenue and earnings per share of $1.31. Client growth and record retail participation influenced the quarter’s performance.
The company added over one million brokerage accounts for the fourth consecutive period. Schwab now has 45.7 million active accounts, strengthening its presence in both advisory and self-managed investing. About one-third of new accounts come from people under 28, showing growing interest from younger investors looking for more asset choices.
The average daily trades hit 7.4 million, up 30% from last year. Margin loans also grew 16% to $97.2 billion, reflecting higher investor activity in stocks and derivatives. This trend supports Schwab’s expansion to tradable assets, including Bitcoin and Ethereum.
Spot Trading Details and Market Context
Rick Wurster said the spot trading product will integrate into existing brokerage interfaces. He described the offering as part of the company’s broader wealth solutions strategy and linked it to long-term client engagement. The platform will serve both institutional users and individual traders.
Schwab has already completed regulatory procedures tied to the rollout. A pilot program will roll out before the full launch, followed by gradual expansion. The company is also looking into using tokenization for other financial assets, suggesting it may go beyond just cryptocurrencies.
The firm controls about 20% of the virtual asset ETP market, giving it a strong base to expand into spot crypto products. Schwab is building a pricing model to compete with firms that already allow digital asset trading. Existing infrastructure in exchange-traded products provides a base for the new offering.
Related: Ripple and Absa Launch Institutional Crypto Custody in Africa
Financial Structure and Investor Response
Balance sheet changes added flexibility ahead of the planned rollout. Schwab reduced its bank supplemental funding to $14.8 billion, down from $27.7 billion in May 2023. Lower funding costs helped lift net interest revenue to $3.05 billion from $2.22 billion last year.
The firm also reported a 44% increase in core net new assets, totaling $137.5 billion. Total client assets rose 17% to $11.59 trillion, supported by inflows and market conditions. Schwab repurchased 28.9 million shares at a value of $2.7 billion, aligning with its capital strategy.
Daily activity and platform size place Schwab in direct competition with existing crypto-enabled brokerages. The integration of spot trading creates new access points for clients who previously relied on external exchanges. The move also aligns the company with other legacy institutions entering digital markets.
Schwab designed the rollout to stay profitable while keeping its fees competitive. The step-by-step approach shows the company’s plan to grow its services without affecting its main brokerage business. Strong recent earnings give it a solid base to launch the new product.
Meanwhile, by adding spot Bitcoin and Ethereum trading, Schwab is linking both retail and institutional investors to crypto through its traditional platform. The move comes after a strong quarter of client growth, more trading activity, and balance sheet changes that support expansion. With regulatory approval and full platform setup, Schwab is preparing to compete with major crypto providers in 2026.
