Key facts
- Charles Schwab will offer spot cryptocurrency trading, transfers, and custody services to its advisor channel by mid-2027.
- This service is distinct from the retail crypto trading service launched in April 2026.
- The advisor service requires custody infrastructure to hold client assets in segregated accounts.
- Demand for direct spot access to crypto has increased among advisors.
- Schwab's advisor platform custodies approximately $10 trillion in assets.
Charles Schwab is targeting mid-2027 to roll out spot cryptocurrency trading, transfers, and custody services for its advisor channel. This offering is separate from the retail crypto trading service launched in April 2026, which had a 75 basis points per trade fee and was restricted in certain states. The new advisor service will require robust custody infrastructure, integrating spot crypto into the existing rails used by over 16,000 advisory firms. Advisors manage approximately $10 trillion in assets on Schwab's platform, and demand for direct spot access to digital assets within client portfolios is rising. The company reported $12.61 trillion in total client assets as of April 30, 2026. The retail crypto account is offered by Charles Schwab Premier Bank, SSB, with Paxos providing sub-custody and trade execution services. Schwab's disclosures state that crypto products are not FDIC insured, not SIPC protected, not deposits, and may lose value. The firm also offers crypto-linked products such as ETPs, equities, futures, mutual funds, trusts, and options.