Schwab Eyes 2027 for Advisor Crypto Trading Launch
Charles Schwab is reportedly gearing up to expand its cryptocurrency offerings, with plans to introduce spot trading, transfer, and custody services for financial advisors on its platform by 2027. This strategic move would significantly broaden direct digital asset access within one of the largest advisor networks in U.S. wealth management, extending Schwab’s crypto ambitions beyond its recently launched retail services.
Jalina Kerr, Managing Director of Schwab Advisor Services, indicated during a virtual media roundtable that the firm is targeting a launch next year. While the timeline is not definitive, Kerr emphasized that the project remains active and on schedule, suggesting a rollout around the middle of 2027.
A Significant Development for the Crypto Market
The proposed product would equip advisors with direct access to spot crypto trading, transfer, and custody tools integrated into Schwab’s existing custody infrastructure. This represents a key distinction from Schwab’s current retail offering, which began earlier this year. An advisor-focused rollout would embed cryptocurrency trading directly within the operational workflows of registered investment advisors managing client portfolios. This contrasts with current practices, where clients might manage exchange accounts independently or rely solely on exchange-traded crypto products.
Charles Schwab stands as a major player in custody and brokerage, reporting $12.61 trillion in total client assets and 39.3 million active brokerage accounts as of April 30, 2026. The Schwab Advisor Services division alone manages approximately $5.31 trillion in client assets, highlighting the substantial scale of the advisor channel that could benefit from direct crypto tools.
This advisor initiative follows Schwab’s April announcement of Schwab Crypto, a phased retail platform that initially offered spot trading for Bitcoin and Ethereum. The retail service allows eligible U.S. clients to trade BTC and ETH across Schwab’s digital platforms, with a fee of 75 basis points on the dollar value of each trade. Schwab has also stated its intention to incorporate additional cryptocurrencies and introduce deposit and withdrawal capabilities in the future.
Currently, the retail crypto accounts are facilitated by Charles Schwab Premier Bank, SSB, with Paxos providing sub-custody and trade execution services. Schwab’s disclosures also clearly delineate the differences between crypto products and traditional brokerage protections, noting that crypto products are “not FDIC insured, not SIPC protected, not deposits, and may lose value.” These distinctions are expected to be carefully considered for the advisor product.
While Schwab has confirmed the fee structure, custody setup, and asset list for its retail launch, details regarding the 2027 advisor rollout remain unconfirmed. It is yet to be determined if the service will initially focus solely on Bitcoin and Ethereum, whether the pricing will mirror the retail 75 basis point fee, or if Paxos will also support the advisor-side infrastructure.
Schwab already provides investors with access to a range of crypto-linked products, including exchange-traded products tied to Bitcoin and Ethereum, crypto-related equities, futures, mutual funds, trusts, and listed options on spot Bitcoin ETPs. However, the introduction of direct spot trading and custody would position Schwab to offer a more comprehensive crypto infrastructure for advisors, moving beyond mere market access through securities wrappers.
At press time, the total cryptocurrency market capitalization stood at $2.32 trillion.
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