📣 Just announced: U.S. retail investors have a new $13 trillion firehose for buying crypto
Schwab CEO gave the green light at yesterday’s Fall Business Update: spot trading for retail customers in $BTC $ETH is now fully live, with deposits and withdrawals to follow. $SOL and two other coins (AVAX and LINK) are expected by year-end.
A few key numbers:
- Schwab manages $13.33 trillion in client assets and 40.3 million brokerage accounts—and is now jumping straight into the crypto business
- Fees are 0.75%, with a 1-cent minimum per trade. Paxos will custody the crypto, making Schwab’s compliance credentials crystal clear
- Deposits and withdrawals will roll out in phases: up to 3 withdrawals per 24 hours, capped at $5,000 each, and a monthly deposit limit of $50 million
In other words: crypto folks used to go buy stocks; now it’s the other way around—the retirement accounts of everyday Americans can buy $BTC with a single tap. At the time of writing, $BTC was at $82,281 (+1.64%).
One quick risk note: it’s not available in New York, Louisiana, or outside the U.S. for now.
What do you think—will traditional brokerages entering the market drive down exchange fees?
Source: Schwab 10-15 Fall Business Update and Q3 earnings report (client assets as of 9-30)
For informational purposes only; not investment advice
Schwab CEO gave the green light at yesterday’s Fall Business Update: spot trading for retail customers in $BTC $ETH is now fully live, with deposits and withdrawals to follow. $SOL and two other coins (AVAX and LINK) are expected by year-end.
A few key numbers:
- Schwab manages $13.33 trillion in client assets and 40.3 million brokerage accounts—and is now jumping straight into the crypto business
- Fees are 0.75%, with a 1-cent minimum per trade. Paxos will custody the crypto, making Schwab’s compliance credentials crystal clear
- Deposits and withdrawals will roll out in phases: up to 3 withdrawals per 24 hours, capped at $5,000 each, and a monthly deposit limit of $50 million
In other words: crypto folks used to go buy stocks; now it’s the other way around—the retirement accounts of everyday Americans can buy $BTC with a single tap. At the time of writing, $BTC was at $82,281 (+1.64%).
One quick risk note: it’s not available in New York, Louisiana, or outside the U.S. for now.
What do you think—will traditional brokerages entering the market drive down exchange fees?
Source: Schwab 10-15 Fall Business Update and Q3 earnings report (client assets as of 9-30)
For informational purposes only; not investment advice