Charles Schwab Opens Direct Bitcoin Buying to U.S. Clients

Charles Schwab has expanded Schwab Crypto access across its eligible U.S. client base, opening direct Bitcoin (BTC) purchases through its brokerage.

Schwab Crypto also supports Ether (ETH), giving the service two supported assets: Bitcoin and Ether. Every transaction incurs a 0.75% fee, a percentage charge that varies in dollar terms with trade size. Paxos provides sub-custody and trade execution. Residents of New York and Louisiana cannot use the offering, but clients in other states can access it through their Schwab accounts.

In April, Charles Schwab announced its spot crypto trading service, Schwab Crypto, and began a phased rollout to customers. The current opening expands direct-purchase access from earlier customer groups to the wider eligible U.S. client base.

The firm manages about $13 trillion in assets and has more than 40 million U.S. users. That scale puts the service inside a brokerage with broad reach among American customers.