Charles Schwab Signals Launch of Direct Bitcoin, Ether Trading Accounts in First Half of 2026

Charles Schwab Corp. is preparing a new account service that will allow clients to trade Bitcoin and Ether directly.

The company has opened a waitlist for “Schwab Crypto,” a new account for direct Bitcoin and Ether trading, The Block reported on August 6. Charles Schwab is targeting a launch in the first half of 2026.

The service will be offered through Charles Schwab Premier Bank and will operate as a separate account rather than a brokerage account. Clients will need an existing Schwab brokerage account to use it.

The rollout will begin on a limited basis. The company plans to conduct internal testing, run a pilot with selected clients and then expand the service in stages.

The offering will carry some restrictions. It will be available only in the US, excluding New York and Louisiana, and will not be accessible overseas. At launch, clients also will not be able to deposit or withdraw crypto assets held in external wallets or on exchanges.

Charles Schwab said crypto assets held in the account will not be treated as securities and will not be covered by deposit insurance or investor protection programs.

The move marks a shift from the firm’s earlier stance. Charles Schwab had previously described crypto as a speculative asset, but it has recently moved to expand related businesses. The company has said its clients hold about 20% of the overall crypto exchange-traded product, or ETP, market.

Charles Schwab is a major US financial firm with about $12.22 trillion in client assets and 38.9 million accounts. The planned launch is drawing attention for its potential impact on the market.