Charles Schwab Launches Direct Bitcoin and Ethereum Trading Across 48 US States

Schwab Crypto enables direct BTC and ETH trading for 40M accounts in 48 states at 0.75% fee, operated with Paxos, emphasizing portfolio risk.

Woofun AI reports that Charles Schwab has initiated direct trading services for Bitcoin and Ethereum, accessible to approximately 40 million brokerage accounts. The offering, branded as Schwab Crypto, operates in 48 US states, excluding New York and Louisiana, with a 0.75% expense ratio. The service is managed by Charles Schwab Premier Bank in collaboration with Paxos. Joe Vietri, head of digital assets at Charles Schwab, stated the firm intends to serve as the primary platform for retail digital asset allocation, leveraging its capabilities in services, education, and research to facilitate crypto trading alongside traditional investments. The company issued a risk warning, noting that even a 1% to 3% portfolio allocation can yield significant volatility, citing historical drawdowns exceeding 70% for both assets.