Charles Schwab, the American brokerage powerhouse managing $11.6 trillion in client assets at the end of 2025, is at last bringing direct cryptocurrency trading to retail investors in the first half of 2026. CEO Rick Wurster confirmed on 5 November that clients will soon be able to buy and sell major coins like Bitcoin and Ethereum commission-free, with direct wallet transfers and full integration into the Schwab app and thinkorswim platform.
The move comes after years of Schwab dragging its feet, limiting itself to futures contracts, crypto-themed ETFs, and educational content while competitors like Fidelity and Robinhood built huge crypto businesses. Demand has exploded: traffic to Schwab’s portal surged 400% this year, and Gen Z now accounts for a third of new client sign-ups.
Schwab also made waves earlier in 2025 by reversing its stance and backing Elon Musk’s controversial $1 trillion Tesla CEO Performance Award after retail investors threatened mass outflows. The firm remains a major Tesla holder through its funds and clearly doesn’t want to alienate its growing base of younger, vocal shareholders.
Founded by the dyslexic Charles R. Schwab in the 1970s, the company revolutionised investing by slashing commissions and opening markets to everyday Americans. Half a century later, it’s doing the same with crypto: tearing down barriers and bringing digital assets to the mainstream. With BlackRock, Fidelity, J.P. Morgan, and Morgan Stanley already deep in the game, Schwab’s entry marks the final stamp of approval from traditional finance. When a broker this size flips the switch, billions in retail money follow, and the market will never feel quite so wild again.