Charles Schwab unveils Schwab Crypto, charging 0.75% per trade and set to launch in the coming weeks

The new product

Charles Schwab is moving into direct crypto trading with a product called Schwab Crypto, it has been reported that the brokerage will make bitcoin and ether available to clients in the coming weeks. The move answers a clear client demand: many customers want to hold their crypto where they keep the rest of their wealth. As CEO Rick Wurster told CNBC last year, clients often keep a sliver of crypto at “digital native” firms but want it brought back under Schwab’s roof — trust matters. This is a tidy, emotional moment for wealth managers: old guard meets new asset class.

Fees and the competitive field

Schwab will reportedly take a 0.75% fee on every crypto trade, undercutting some venues but sitting above others. For context: Fidelity Crypto charges about 1% per transaction, Robinhood ranges roughly from 0.03% to 0.95%, and Coinbase’s retail fees can reach as high as 4% depending on tier. It’s not just fees — this is about audience and distribution. Robinhood courts younger, app-first traders; Coinbase and Kraken are expanding into stocks. Schwab is selling convenience and trust: your bitcoin next to your 401(k). Worth the premium? That depends on how much you value one-stop shopping.

Why it matters

This is another notch in the broader normalization of crypto by big finance. It has been reported that the more favorable regulatory tone from Washington helped firms that once sat on the sidelines decide now is the time to jump in. Schwab’s move blurs the line further between traditional brokerage services and crypto-native platforms. Shares slipped about 5% on the day, weighed down by an unrelated quarterly revenue miss — a reminder that product launches don’t happen in a vacuum. Will mainstream brokerages win over cautious retail investors? Or will crypto natives keep the edge with lower fees and crypto-first features? The next few months should tell.

Sources: cnbc.com