Charles Schwab has initiated a phased rollout of direct spot trading for Bitcoin and Ether within its brokerage platform, which manages $11.9 trillion in client assets. According to NS3.AI, Schwab's Q4 2025 earnings report indicated 38.5 million active brokerage accounts. The custody of these digital assets is managed by Charles Schwab Premier Bank, while Paxos handles the execution of trades. The service imposes a fee of 75 basis points per trade. It is important to note that cryptocurrencies held through Schwab are not protected by FDIC deposit insurance or SIPC protection.