Charles Schwab is preparing to extend direct crypto access from retail investors to financial advisors, with a 2027 target for spot trading, transfers and custody on its advisor platform.
Summary
- Charles Schwab targets mid-2027 for advisor crypto spot trading, transfers and custody, though timing may change.
- The advisor plan follows Schwab Crypto, which brought Bitcoin and Ethereum trading to retail clients.
- Advisors use crypto ETPs, but direct spot demand is rising among clients holding assets elsewhere.
The plan would move Schwab’s crypto work deeper into wealth management, where advisors manage client accounts, asset transfers and custody needs through one platform.
Charles Schwab targets advisor crypto access
Charles Schwab is aiming to launch crypto spot trading services for advisors on its custody platform in 2027. The planned rollout would give advisor clients access to direct trading, asset transfers and custody through Schwab’s existing wealth management infrastructure.
Jalina Kerr, managing director at Schwab Advisor Services, said during a virtual media roundtable that the launch is “on track” for around mid-2027. She also said the timeline is “subject to change,” which means Schwab has not set a final launch date. Schwab oversees more than $10 trillion in client assets.
Meanwhile, the advisor plan follows Schwab Crypto, the firm’s spot Bitcoin and Ethereum trading product for retail clients. Schwab began rolling out that service to select U.S. clients this year, after earlier confirming a phased launch for direct access to Bitcoin and Ethereum.
Schwab said the retail crypto account is offered through Charles Schwab Premier Bank, SSB. Paxos provides trade execution and sub-custody services, while Schwab clients can view crypto beside traditional investments on Schwab.com, Schwab Mobile and thinkorswim.
Advisors weigh direct custody demand
Kerr said advisors still prefer exchange-traded products for most crypto exposure. Those products let clients track crypto markets inside familiar brokerage structures without directly handling coins or wallets.
Direct spot trading interest has still increased among advisors whose clients already hold crypto elsewhere. Schwab’s planned service would target that group by adding custody and transfer tools, not just trading access.
Competitors push into crypto trading
The move comes as major financial firms add direct crypto services. As previously reported by crypto.news, Morgan Stanley launched an ETrade crypto pilot with Bitcoin, Ether and Solana trading at a 0.5% fee, below Schwab’s 75-basis-point retail crypto fee.
Schwab has not released advisor pricing, supported assets or transfer limits for the 2027 service. Its retail platform started with Bitcoin and Ethereum, while Schwab said it plans to add more cryptocurrencies and transfer features over time.
The advisor rollout would expand Schwab’s digital asset strategy beyond self-directed retail users. It would also bring direct crypto tools closer to independent advisors who already use Schwab for custody, trading and client account support.
For now, the plan remains tied to a flexible timeline. Schwab is targeting mid-2027, but Kerr’s comments show the firm is still working through product design, cash movement rules and custody controls before launch.