Charles Schwab launched Schwab Crypto on May 13, 2026, offering direct spot trading in Bitcoin and Ethereum to eligible U.S. retail clients through Charles Schwab Premier Bank, SSB. The service became available following the completed migration of all TD Ameritrade client accounts to the Schwab platform by 2024. Schwab cited growing client demand for direct cryptocurrency access as the driver for the launch, which opened its 35 million active accounts to digital asset trading for the first time. TD Ameritrade ceased operating as an independent brokerage after Schwab completed its $26 billion acquisition announced in 2019. The new crypto service operates across Schwab.com, Schwab Mobile, and the thinkorswim platform with a fee structure of 75 basis points per trade.
Schwab Crypto Launches Bitcoin and Ethereum Spot Trading
Schwab Crypto became available to eligible retail clients on May 13, 2026, supporting spot trading in Bitcoin and Ethereum. The service operates through Charles Schwab Premier Bank, SSB, and is accessible across Schwab.com, Schwab Mobile, and the thinkorswim platform, according to Decrypt. Schwab manages over $11.9 trillion in client assets.
CEO Rick Wurster stated at the Reuters Next conference that the firm remains "on track to launch our spot crypto offer," framing the rollout as a response to growing client demand for direct access to cryptocurrency, CoinDesk reported.
TD Ameritrade announced its acquisition by Schwab in 2019 for approximately $26 billion. Client accounts fully transitioned by 2024. TD Ameritrade's thinkorswim trading tools were preserved and integrated into Schwab's ecosystem. During its years as a standalone brokerage, TD Ameritrade offered limited crypto exposure through Bitcoin futures on the CME, the Grayscale Bitcoin Trust (GBTC), Bitcoin-related ETFs, and publicly traded crypto company stocks. Direct spot cryptocurrency trading was never available through TD Ameritrade.
Schwab Charges 75 Basis Points Per Crypto Trade
Schwab Crypto charges 75 basis points per trade. Fidelity Crypto charges 1% per transaction, Robinhood charges between 0.03% and 0.95%, and Coinbase retail fees can reach 4%, CNBC reported.
Platform Excludes Self-Custody and Multiple Trading Features
Schwab Crypto does not currently support self-custody withdrawals, staking, altcoin trading beyond BTC and ETH, recurring purchases, or limit orders. The service excludes residents of New York and Louisiana at launch.
Schwab Offers 11 Spot Bitcoin ETFs as Alternative Access
Former TD Ameritrade clients can access crypto exposure through 11 spot Bitcoin ETFs available on the Schwab platform, including products from BlackRock (IBIT) and Fidelity (FBTC). Spot Bitcoin ETFs received approval in January 2024. Ethereum ETPs are also accessible on the platform. These products provide exposure without requiring a separate crypto account.
Schwab Crypto Operates Through Premier Bank Subsidiary
Schwab Crypto operates through its Premier Bank subsidiary, placing crypto trading under banking regulations rather than broker-dealer rules. The 2026 IRS Form 1099-DA reporting requirements apply to Schwab Crypto transactions.
EDX Markets, backed by Citadel Securities, Fidelity, and Schwab, has filed for an OCC national bank charter to provide custody and trade settlement services.
Schwab Targets 2027 Crypto Rollout for Investment Advisors
Schwab is targeting a 2027 launch of crypto trading and custody capabilities for registered investment advisors. No specific timeline or additional asset announcements have been made for retail platform expansion beyond Bitcoin and Ethereum.
FAQ
Can I trade crypto on TD Ameritrade in 2026?
No. TD Ameritrade no longer exists as an independent brokerage. All accounts migrated to Charles Schwab by 2024. Schwab launched Schwab Crypto on May 13, 2026, offering Bitcoin and Ethereum spot trading.
What fees does Schwab charge for crypto trading?
Schwab Crypto charges 75 basis points per trade. Fidelity Crypto charges 1%, Robinhood charges 0.03% to 0.95%, and Coinbase retail fees can reach 4%, according to CNBC.
Can I withdraw crypto from Schwab to a personal wallet?
No. Schwab Crypto does not currently support self-custody withdrawals. Clients cannot transfer purchased Bitcoin or Ethereum to external wallets.
