Charles Schwab, a leading financial services firm, is set to launch a significant crypto initiative in the first half of 2026, allowing its clients to buy and sell Bitcoin and Ethereum directly through a newly established “Schwab Crypto” account. This development marks a pivotal shift in traditional finance’s approach to cryptocurrency.
As confirmed on April 3, 2026, by Schwab, a waitlist has been created for early access ahead of a broader public rollout. The initiative will be managed through Charles Schwab Premier Bank, aiming to integrate cryptocurrency into the broader investment ecosystem used by its clients.
CEO Rick Wurster has indicated that a limited number of clients may gain access to the platform soon, with plans for a general launch to follow. Wurster first unveiled Schwab’s crypto trading ambitions in July the previous year, highlighting the importance of aggregating crypto assets alongside traditional securities like stocks and bonds within a single account.
Currently, Schwab offers various crypto-related investment options, including crypto exchange-traded funds (ETFs) and futures contracts. The introduction of the Schwab Crypto account, however, will facilitate direct ownership of Bitcoin and Ether, presenting a more tangible option for clients than mere derivatives, such as futures or ETFs.
A Crowded Race Into Crypto
Schwab’s foray into cryptocurrency is part of a broader trend among established financial institutions aiming to provide crypto trading capabilities. Morgan Stanley, for instance, has also announced its plans to enable crypto trading through its E*TRADE platform, further intensifying the competitive landscape.
The remarkable scale of Schwab is noteworthy, as it manages roughly $11.9 trillion in client assets, supported by a robust customer base of approximately 46 million accounts. This positions the firm to potentially tap into a significant wave of new crypto investors.
EDX Markets Seeks Bank Charter
In conjunction with its crypto trading plans, EDX Markets—a cryptocurrency exchange incubated by Schwab—is pursuing a national bank charter from the Office of the Comptroller of the Currency (OCC). This move aims to align EDX with other crypto entities like Ripple and Coinbase, which have received conditional approvals for trust charter applications.
EDX CEO Tony Acuña-Rohter has articulated a belief that large banks will spearhead the next wave of crypto adoption. He argues that securing a national trust charter would streamline EDX’s ability to serve these financial institutions more effectively.
As Schwab prepares for its internal rollout, which includes staff testing followed by a client pilot program, details regarding fees and further specifics for the Schwab Crypto account remain under wraps. Interested individuals can sign up for the waitlist on Schwab’s website as anticipation builds for this forthcoming service.
