Charles Schwab has detailed its entry into direct cryptocurrency trading with Schwab Crypto, offering retail clients spot Bitcoin and Ether at a 0.75% transaction fee as part of a phased rollout starting in the coming weeks.
Schwab Spot Crypto Trading Start Ignites Fee Competition
17 April 2026 - 09:01 CEST
The move by the $12tn-asset brokerage (SCHW) adds fresh pressure on pricing across both direct crypto trading and related investment products, building on recent aggressive fee strategies in the spot Bitcoin ETF space.
Fee war intensifies across crypto access
Schwab Crypto will charge 0.75% on the dollar value of each trade, a rate the firm describes as among the lowest in the brokerage industry. Clients can trade and view their Bitcoin and Ether positions directly alongside traditional stocks, bonds and other holdings on Schwab.com, the mobile app and the thinkorswim trading platform.
This pricing undercuts Fidelity’s 1% fee for similar crypto trading services. It also arrives weeks after Morgan Stanley proposed a 0.14% annual expense ratio for its spot Bitcoin ETF – the lowest yet in the category. That proposal undercuts BlackRock’s iShares Bitcoin Trust (IBIT) at 0.25% and Grayscale’s Bitcoin Mini Trust at 0.15%, highlighting a broader push toward lower costs for investors.
Schwab Crypto will charge a flat 0.75% on the dollar value of each trade. This sits above typical maker-taker fees on leading crypto-native exchanges, which often range from 0.00%–0.60% for active or high-volume traders. However, it undercuts Fidelity’s 1% fee for similar services and offers a straightforward structure without tiered pricing or spreads.
Bitcoin serves as the leading digital store of value with the largest market capitalization. Ether powers the Ethereum blockchain, the dominant network for smart contracts and decentralized applications.
Paxos partnership, client safeguards
Charles Schwab Premier Bank, SSB, will custody client assets and handle record-keeping, while Paxos – an OCC-regulated blockchain infrastructure provider – delivers sub-custody and trade execution services through a federally overseen trust model.
The hybrid structure combines traditional banking oversight with specialized blockchain technology.
Built-in demand, expansion plans
Schwab already benefits from substantial internal interest. Its clients hold approximately 20% of spot crypto exchange-traded products industry-wide. The firm has offered indirect crypto exposure since 2022 through the Schwab Crypto Thematic ETF, which invests in companies tied to the digital asset ecosystem.
Schwab said that over time it plans to add more cryptocurrencies, as well as enabling deposit and withdrawal transfers.
Implications for retail, institutional investors
For retail investors, Schwab’s offering reduces friction by keeping crypto within a familiar platform with 24/7 support and comprehensive tax reporting. Institutional and wealth-focused clients may see ripple effects as fee competition spreads from ETFs to direct trading services.
