Markets · Brokerage
Schwab says it plans to expand digital assets in Schwab Crypto
Schwab's third-quarter release lists wider crypto offerings among its highlights, building on a plan to add Solana, Avalanche and Chainlink. Accounts remain closed to New York and Louisiana residents.
Charles Schwab listed "plans to expand digital assets available in Schwab Crypto" among its third-quarter highlights on Oct. 15, signaling that it intends to widen what its clients can buy beyond bitcoin and ether (source 1). With 40.3 million active brokerage accounts, Schwab can put crypto in front of more mainstream investors than most exchanges reach (source 1).
The planned additions are already named. In August, Schwab said Schwab Crypto clients would be able to buy and sell Solana (SOL), Avalanche (AVAX) and Chainlink (LINK) "in the coming months" (source 3). Schwab Crypto began rolling out to clients in May 2026 with bitcoin and ether (source 3).
Who can use it
Eligibility has limits. Schwab Crypto accounts are available "in all U.S. states except for New York and Louisiana," not in U.S. territories or abroad, and Schwab says "not all clients will qualify" (source 2). The 40.3 million figure counts accounts, not people, and many account holders will not qualify for crypto.
Schwab Crypto is offered by Charles Schwab Premier Bank, SSB, which acts as custodian, meaning it holds the coins and keeps the records. Paxos provides sub-custody and trade execution (source 2). Schwab charges 75 basis points, or 0.75%, of the dollar value of each trade (source 2). In April, Schwab said it planned to add transfers "for both deposits and withdrawals" over time, so clients could bring existing coins to Schwab (source 2).
The rollout has moved in steps since spring, as the timeline below shows.
| Date | Step |
|---|---|
| Apr. 16, 2026 | Schwab details spot bitcoin and ether trading; transfers planned "over time" (source 2) |
| May 2026 | Schwab Crypto begins rolling out to clients (source 3) |
| Aug. 27, 2026 | Schwab plans to add SOL, AVAX and LINK "in the coming months" (source 3) |
| Oct. 15, 2026 | Earnings release cites plans to expand digital assets in Schwab Crypto (source 1) |
Each step has widened either who can trade or what they can hold, though Schwab's published documents give no date for the next one.
What is not yet known
- How many clients have opened Schwab Crypto accounts or how much they have traded.
- Whether every eligible client can now open an account.
- When coin transfers will start, and which coins and wallets they will support.
- The exact launch date for SOL, AVAX and LINK.
- Whether New York and Louisiana clients will gain access.
What it means
In Le Coin's view, transfers are the step to watch. Trading at 75 basis points brings in new buyers, but transfers would let Schwab draw in coins already held at exchanges, which is where Coinbase and Robinhood earn custody and trading revenue.
In Le Coin's view, the bank-custody setup is the other point. Holding client crypto at a Schwab bank, with Paxos behind it, offers cautious investors a familiar name and tests whether brand trust can win assets from crypto-native firms.
Sources
- The Charles Schwab Corporation, Form 8-K Exhibit 99.1, third-quarter 2026 earnings release, Oct. 15, 2026, https://www.sec.gov/Archives/edgar/data/316709/000031670926000035/a3q26exhibit991.htm, accessed 2026-10-16, 9:20 a.m. ET.
- Charles Schwab, "Charles Schwab Announces Details of Spot Crypto Trading Launch," press release, Apr. 16, 2026, https://pressroom.aboutschwab.com/press-releases/press-release/2026/Charles-Schwab-Announces-Details-of-Spot-Crypto-Trading-Launch/, accessed 2026-10-16, 9:20 a.m. ET.
- Charles Schwab, "Charles Schwab Announces Plans to Expand Digital Assets Available in Schwab Crypto Accounts," press release, Aug. 27, 2026, https://pressroom.aboutschwab.com/press-releases/press-release/2026/Charles-Schwab-Announces-Plans-to-Expand-Digital-Assets-Available-in-Schwab-Crypto-Accounts/, accessed 2026-10-16, 9:20 a.m. ET.
Holding the Corner.
Not financial advice.