Charles Schwab has officially enabled Bitcoin and Ethereum trading for its 46 million clients, who collectively manage $11.8 trillion in assets. The move integrates major cryptocurrencies into the brokerage giant's offerings.
Schwab is utilizing Paxos for trade execution and a third-party provider, likely Coinbase, for custody services. Despite this significant market entry, immediate price impact has been minimal. The brokerage is implementing a phased rollout with a 0.75% trading fee.
The focus is now on how Schwab's extensive client base will adopt digital assets over time, rather than short-term price catalysts. Key indicators to monitor include client allocation shifts, regulatory developments from the SEC and Federal Reserve, and potential responses from competing financial institutions.