Charles Schwab just entered spot crypto – game changer or just another player?
$12.22 TRILLION in client assets. 39 million brokerage accounts. And now? Direct Bitcoin and Ethereum trading.
Schwab just announced Schwab Crypto – rolling out in phases over the next few weeks -1-9.
The details:
What: Spot $BTC & $ETH trading (75% of crypto market cap right there)
Fee: 0.75% per trade – cheaper than Fidelity (1%), competitive with Robinhood & Coinbase -2-6
Custody: Schwab Premier Bank holds the assets, Paxos handles execution -9
Limits: No deposits/withdrawals at launch (buy/sell only). NY and LA residents excluded for now -1
The bullish side 🟢
39 million people can now buy crypto without leaving Schwab. That's massive distribution.
Schwab clients already hold 20% of all spot crypto ETPs globally. Demand is there -9.
Traditional finance keeps coming in – Morgan Stanley, Goldman, now Schwab. This is normalization, not speculation.
The bearish side 🔴
No withdrawals means you don't really own your keys. Not your wallet, not your coins.
0.75% fee adds up. For a $10K trade, that's $75.
Limited to BTC and ETH only – no altcoins (yet)
My take:
This is huge for adoption. Your parents' brokerage now sells crypto. But for decentralization? Meh.
Real question: Will Schwab clients actually buy, or just watch from the sidelines?
What do you think – bullish for crypto or just Wall Street eating Coinbase's lunch?
Educational only. Not financial advice.