Charles Schwab to launch direct Bitcoin, Ethereum trading to compete with Robinhood

Charles Schwab plans to launch direct spot trading for Bitcoin and Ethereum by June 2026 to compete with fintech platforms like Robinhood.
The service will be managed through Charles Schwab Premier Bank, SSB, indicating a focus on regulatory compliance and asset security.
This expansion represents a pivot from offering indirect crypto products like ETFs toward a model of direct digital asset ownership.
Schwab intends to leverage its massive twelve-trillion-dollar client asset base to bring traditional investors into the cryptocurrency market.
The platform will initially be unavailable in highly regulated states such as New York and Louisiana as part of a cautious rollout.
CEO Rick Wurster stated that integrating crypto will allow clients to oversee digital assets alongside traditional retirement and brokerage holdings in one interface.
Industry analysts suggest that Schwab's entry will increase market liquidity and further solidify the mainstream legitimacy of the digital asset class.

Knote: I guess the real question here is why did this take so long? Fidelity launched their crypto trading app three years ago.