WTF, Schwab just stuffed Bitcoin into 40 million brokerage accounts? 🏦
Just now, Charles Schwab CEO Rick Wurster confirmed that spot trading in BTC and ETH for retail customers has fully rolled out. Eligible users can buy and sell directly in their Schwab accounts.
A few key points:
🔹 Scale: Around 40 million brokerage accounts, backed by $13.3 trillion in client assets
🔹 Fees: 0.75% per trade (minimum $1), quite a bit more than Coinbase’s 0.04%–0.60%
🔹 Transfers: Rolling out in phases. You can deposit crypto and withdraw it to external wallets, but withdrawals are limited to 3 transactions per 24 hours, with a maximum of $5,000 per transaction, and can only be sent to pre-approved addresses
🔹 Next up: SOL, AVAX, and LINK are also slated to launch by year-end
🔹 Not yet available in New York or Louisiana
In plain English: This Wall Street brokerage veteran isn’t just selling ETFs anymore—it’s letting retail investors trade spot crypto directly and withdraw their coins. The fees aren’t cheap, and withdrawals are capped, but it’s making the barrier to entry much lower for traditional investors.
Do you think this will bring in a new wave of money, or is the brokerage coming for the exchanges’ lunch? 👇
#CPI_BTC_Watch #BTC #SOL
Just now, Charles Schwab CEO Rick Wurster confirmed that spot trading in BTC and ETH for retail customers has fully rolled out. Eligible users can buy and sell directly in their Schwab accounts.
A few key points:
🔹 Scale: Around 40 million brokerage accounts, backed by $13.3 trillion in client assets
🔹 Fees: 0.75% per trade (minimum $1), quite a bit more than Coinbase’s 0.04%–0.60%
🔹 Transfers: Rolling out in phases. You can deposit crypto and withdraw it to external wallets, but withdrawals are limited to 3 transactions per 24 hours, with a maximum of $5,000 per transaction, and can only be sent to pre-approved addresses
🔹 Next up: SOL, AVAX, and LINK are also slated to launch by year-end
🔹 Not yet available in New York or Louisiana
In plain English: This Wall Street brokerage veteran isn’t just selling ETFs anymore—it’s letting retail investors trade spot crypto directly and withdraw their coins. The fees aren’t cheap, and withdrawals are capped, but it’s making the barrier to entry much lower for traditional investors.
Do you think this will bring in a new wave of money, or is the brokerage coming for the exchanges’ lunch? 👇
#CPI_BTC_Watch #BTC #SOL