Charles Schwab, steward of ~$11.6T in client assets, says it will launch spot crypto trading in the first half of 2026. The move follows blowout Q3 results and a surge in Gen Z clients — and could be a watershed for mainstream access to Bitcoin and beyond

One of the world’s most influential brokerages is stepping onto the digital-asset field. Charles Schwab said it plans to roll out spot crypto trading in the first half of 2026, a timeline CEO Rick Wurster confirmed around the firm’s stronger-than-expected Q3 print. For a platform that oversees roughly $11.6 trillion in client assets, the decision is a benchmark moment for crypto’s integration into mainstream wealth platforms.

What Schwab said — and why now

Wurster’s comment puts a stake in the ground: spot crypto access is coming to a distribution network that already serves tens of millions of investors and RIAs. The announcement landed alongside a blowout quarter in which Schwab reported record revenue and $137.5B in core net new assets, lifting total client assets to $11.59T. Management highlighted growth among younger cohorts — a trend many brokers link to digital-asset demand.

Coverage of the call and subsequent briefs emphasized a Gen Z pull: roughly one-third of new accounts stem from investors under 28, supporting Schwab’s timing for a 2026 launch window.

How big could this be for crypto flows?

Schwab’s distribution isn’t just large — it’s embedded in the workflows of RIAs, self-directed traders, and retirement savers. Even a single-digit adoption rate across eligible accounts would translate to meaningful, sustained spot demand given the firm’s AUM scale and high household penetration. Crucially, Schwab tends to onboard features with conservative guardrails (education, suitability, controls), which can appeal to allocators who have avoided off-platform exchanges.

What exactly will launch?

• Asset scope: Reporting specifies spot Bitcoin first, with additional assets to follow. Market structure factors to watch include initial listings, minimum trade sizes, and venue/routing design.

• Custody rails: Schwab’s selection of qualified custodians, wallet architecture, and insurance disclosures will be pivotal for RIA adoption and compliance teams. (Expect multi-sig or MPC-based cold-first frameworks.)

• RIA enablement: Advisor toolsets — model portfolios, sleeve accounting, and performance reporting — will decide whether allocations remain retail-only or extend to fee-based programs.

• Tax & reporting: 1099 integration and granular lot tracking can be a tipping point for mainstream adoption in taxable accounts.

Context: a record quarter sets the stage

Schwab’s momentum gives the crypto initiative a tailwind. Q3 revenue hit a record $6.14B (+27% y/y), with net income and trading revenue both rising. Client assets climbed 17% y/y to $11.59T, and net new assets reached $134–138B depending on source tallies. The share price responded positively to the beat, reinforcing management’s message that product expansion is happening from a position of strength.

Why 2026 — not sooner?

Launching in H1 2026 allows Schwab to finish integrations, finalize risk and surveillance controls, and align with any additional U.S. regulatory guidance expected over the next several quarters. It also gives time to refine bank-level compliance (KYC/AML, travel rule) and to pilot with controlled cohorts before broader release — a cadence consistent with how Schwab historically rolls out derivatives or complex products.

Implications for the competitive landscape

For retail, Schwab’s move narrows the feature gap with native crypto brokers and super-apps. For advisors, it could normalize on-platform spot exposure alongside ETFs and public-equity proxies. For exchanges, it may redirect a slice of dollar inflows toward broker-integrated rails that emphasize custody confidence and unified statements. Expect peers with large RIA footprints to revisit roadmaps.

Constraints and caveats

Regulatory drift: Changes in stablecoin, market-structure, or custody rules could alter launch scope or timing.
Product design risk: A conservative initial roster (BTC-only, narrow hours, tight limits) would cap early adoption — though it may broaden the base of first-time buyers.
Behavioral substitution: Some users may shift from off-platform exchanges to Schwab rather than adding net new demand; the net impact depends on pricing, UX, and tooling.

What to watch next

Earnings transcripts & IR updates: Look for specifics on eligible account types, RIA support, and custodian partners in upcoming calls and filings.
Reg-tech buildout: Vendor contracts for surveillance, transaction monitoring, and tax reporting often surface ahead of launch.
Peer response: Competitors may accelerate their own crypto roadmaps (custody, staking, or tokenization pilots) to avoid client attrition.

Why this matters for the next cycle

Crypto adoption tends to scale when distribution, compliance, and reporting become boring. Schwab brings exactly that infrastructure: a familiar login, unified statements, and bank-grade controls. With spot ETFs already paving the way for passive exposure, direct spot trading at a $11T-plus platform could unlock the next cohort of mainstream participants — not because the UX is flashy, but because it feels safe and integrated.

Bottom line

Schwab’s planned H1 2026 launch is more than another on-ramp; it’s a signal that agency-grade brokerage is normalizing crypto alongside equities, funds, and options. If product scope and RIA tools land well, the effect won’t be a single headline spike — it’ll be a steady, compounding flow of advised and self-directed assets into a market whose float has already been tightening.