Schwab Completes Retail Bitcoin and Ether Rollout, Starts Crypto Transfers
Schwab Opens Crypto Transfers as Trading Goes Fully Live
Charles Schwab has completed its retail rollout of direct bitcoin and ether trading, CEO Rick Wurster announced during the company's Fall Business Update on October 15. The brokerage also began introducing crypto transfers, allowing eligible clients to move their existing bitcoin and ether holdings into or out of Schwab accounts.
Wurster confirmed that three additional coins — Solana (SOL), Avalanche (AVAX), and Chainlink (LINK) — will be available by the end of the year, sharpening an earlier timeline of "the coming months."
Key Details
- All eligible Schwab retail clients can now trade bitcoin and ether through Schwab Crypto.
- Crypto transfers are rolling out in phases, with clients notified by email when their account qualifies.
- Solana, Avalanche, and Chainlink are slated for access before the end of 2026.
- Schwab charges a 0.75% fee on each crypto purchase and sale, with a minimum fee of one cent.
- Client assets stood at $13.33 trillion as of September 30, including $7.49 trillion in Investor Services and $5.85 trillion in Advisor Services.
What Schwab Officials Said
"All clients can now access Schwab Crypto. We are rolling out the ability for clients to transfer their crypto holdings to Schwab, and we are launching access to three new coins by the end of the year," Wurster said, according to a Quartr transcript of the earnings call.
When asked about growing revenue from the platform, Wurster identified crypto and prediction markets as areas creating "additional transactional-based revenue streams."
Transfer Rules and Limits
The new transfer feature supports bitcoin on the Bitcoin network and ether on Ethereum. Clients can move existing holdings into Schwab or send coins to external wallets. Crypto is held in a separate account at Charles Schwab Premier Bank, with Paxos providing sub-custody.
Transfers come with several controls. Clients must verify their identity and set up a passkey. New withdrawal addresses require a 24-hour waiting period. Withdrawals are limited to three per 24 hours and $5,000 per transfer. Deposits are capped at $50 million per month. Schwab does not charge a transfer fee, but outgoing transactions incur standard blockchain network fees.
Eligibility and Exclusions
Crypto eligibility is determined at the account level. Applicants need an eligible linked brokerage account, including individual and joint accounts. Schwab's current terms exclude residents of New York, Louisiana, U.S. territories, and international jurisdictions. Not all clients qualify.
A separate advisor-channel crypto service was previously targeted for mid-2027, according to prior reporting.
Why This Matters for Retail Investors
Schwab's move represents one of the largest traditional brokerages to offer direct crypto trading and transfers to its retail client base. With over $13 trillion in client assets, even a small percentage of adoption could represent significant onboarding of mainstream investors into digital assets. The 0.75% trading fee is competitive compared to many crypto exchanges, though higher than typical stock trades.
What's Next
The three additional coins — Solana, Avalanche, and Chainlink — are expected to become available by the end of 2026. Transfer eligibility will continue to roll out in phases, with affected clients notified by email.
Sources
Newisty Editorial Team covers technology, cryptocurrency, digital products, online platforms, developer tools and the wider digital economy. Our content is researched from official sources, company announcements, public documentation, market data and other primary or reputable sources. Articles are reviewed and edited before publication for clarity, accuracy and useful context.