Nikolas Sargeant
TL;DR
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Charles Schwab has launched a waitlist for Schwab Crypto, a new account that will enable direct Bitcoin and Ether trading.
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The product is set for a phased rollout starting in Q2 2026, though it will initially exclude some regions and won’t support crypto transfers from external wallets.
Charles Schwab opens waitlist for direct Bitcoin and Ether trading ahead of 2026 launch
Charles Schwab has launched a waitlist for “Schwab Crypto,” a new account that will allow clients to buy and sell Bitcoin and Ether directly, marking a major step in the firm’s push into digital assets.
A spokesperson confirmed to CoinDesk on Friday that the company remains on track for a first-half 2026 rollout.
The firm’s crypto landing page now features a “Schwab Crypto™ is coming soon” banner, inviting users to register for updates and early access.
The offering is positioned as a “gateway” for trading Bitcoin and Ethereum, but will be provided through Charles Schwab Premier Bank, SSB — not through its traditional brokerage accounts. However, users must already hold a Schwab brokerage account to qualify.
CEO Rick Wurster previously indicated that the product will debut with a limited rollout in the second quarter, starting with internal employee testing before expanding to a select group of clients. A broader launch will follow.
Schwab’s disclosures highlight several constraints at launch. Schwab Crypto accounts will be available across most U.S. states but will exclude New York and Louisiana, as well as U.S. territories and international jurisdictions.
Eligibility will also vary, and accounts may be restricted or closed if clients relocate to unsupported regions.
Importantly, assets held in Schwab Crypto accounts will not carry traditional protections. The firm notes that cryptocurrencies are not securities, are not covered by SIPC, are not FDIC-insured, and may lose value.
Additionally, Schwab will not initially support crypto deposits or withdrawals. Clients will be unable to transfer assets from external wallets or exchanges at launch — a notable limitation given earlier comments from Wurster suggesting demand from users holding crypto on platforms like Coinbase.
This latest development indicates a significant shift in Schwab’s stance on digital assets. The investment platform dismissed crypto as “purely speculative” in 2019, explored white-label solutions by 2021, and backed EDX Markets in 2023.
Last year, Schwab executives noted that its clients held more than 20% of all crypto exchange-traded products globally.
In July 2025, the company announced plans for Bitcoin and Ethereum spot trading to compete with crypto-native exchanges.
Schwab is not alone in targeting the sector. Morgan Stanley is preparing to offer spot trading in Bitcoin, Ether, and Solana through E*Trade via a partnership with Zerohash, while also pursuing its own national trust bank charter.
