Charles Schwab opens the "Schwab Crypto" waitlist, planning to offer limited direct trading services for Bitcoin and Ethereum in Q2 2026.

Deep Tide TechFlow message, April 05, according to The Block, Charles Schwab has opened a waitlist for “Schwab Crypto” accounts, allowing customers to directly buy and sell Bitcoin and Ether, and confirmed that it still plans to launch the service in the first half of 2026. CEO Rick Wurster previously told Barron’s that it would conduct a limited-scope pilot in the second quarter—first opening it to internal employees, then gradually expanding it to select customers, ultimately enabling broader access.

The account will be provided by Charles Schwab Premier Bank, a subsidiary of Charles Schwab. Applicants must hold an existing Schwab brokerage account in order to apply. In the initial launch phase, it does not support New York State or Louisiana, nor does it accept transfers of cryptocurrency assets from external wallets or exchanges. Relevant disclosure documents state that the cryptocurrencies held through Premier Bank are not protected by SIPC, do not enjoy FDIC deposit insurance, and may result in losses.

This launch marks a major shift in Charles Schwab’s stance toward crypto. In 2019, the company had characterized digital assets as “purely speculative assets.” As of this February, Charles Schwab manages $12.22 trillion in client assets and has 39.9 million active brokerage accounts. Morgan Stanley is also preparing to offer spot trading services for Bitcoin, Ether, and Solana through E*Trade, and the trend of traditional financial institutions moving into crypto spot trading continues to accelerate.