The firm’s Schwab Crypto accounts will allow users to trade spot BTC and ETH, expanding beyond the crypto exposure that was previously only accessible via crypto-related equities, ETFs, and other exchange-traded products (ETPs).
“Following a successful employee pilot, we began rolling out access to Schwab Crypto accounts earlier this week to a cohort of eligible retail clients who signed up on our interest list,” a representative for the firm told Decrypt. “We will continue rolling out access to eligible clients over the coming months.”
While the addition of spot trading has been long anticipated, the firm’s official launch comes a little more than one year after President Donald Trump returned to office and began instituting more crypto-friendly policies.
Though he said the firm is not rushing to offer products in that realm, he told investors that “at some point, we will likely have prediction markets.” Such wagers would likely focus on financial outcomes, however, and steer clear of topics like sports, pop culture, and elections that have drawn interest at broader prediction market platforms like Polymarket and Kalshi.
Shares in Charles Schwab Corporation (SCHW) are up around 1% on Wednesday, recently changing hands around $91.18.
Meanwhile, BTC and ETH are each down more than 1% on the day, trading near $78,850 and $2,242, respectively.
