Charles Schwab Targets Mid-2027 Launch for Crypto Trading and Custody Services for Advisors
Charles Schwab, one of the world’s largest custodians and brokerage firms, announced plans to roll out spot cryptocurrency trading, transfer, and custody capabilities for financial advisors by mid-2027. This strategic move aims to integrate direct digital asset access into Schwab’s advisor custody platform, significantly expanding its crypto offerings beyond the retail market.
A Major Step Into Crypto for Advisors
Jalina Kerr, Managing Director of Schwab Advisor Services, revealed during a recent virtual media roundtable that the company is currently on track for a mid-2027 launch. While the exact timeline is not yet finalized, Kerr emphasized that the project remains active and progressing according to schedule.
This upcoming product will allow registered investment advisors (RIAs) to access spot crypto trading and custody tools directly through Schwab’s institutional custody infrastructure. Unlike Schwab’s earlier 2026 retail offering, which permits individual clients to trade Bitcoin and Ethereum, the advisor-focused platform will embed crypto management within the daily workflows of advisors managing client portfolios. This integration could eliminate the need for advisors’ clients to maintain separate exchange accounts or solely rely on indirect crypto investment vehicles like exchange-traded products.
Schwab’s Crypto Ambitions in Context
As of April 30, 2026, Charles Schwab reported a staggering $12.61 trillion in total client assets and 39.3 million active brokerage accounts. The Schwab Advisor Services channel itself manages about $5.31 trillion in client assets. Enabling direct crypto trading and custody within such a vast advisor ecosystem could accelerate the adoption of digital assets in mainstream wealth management.
Earlier this year, Schwab launched its retail crypto platform, Schwab Crypto, which allows eligible U.S. clients to trade Bitcoin (BTC) and Ethereum (ETH) on Schwab.com, the Schwab Mobile app, and the thinkorswim trading platform. The retail service charges a 75 basis point fee on crypto trades and currently supports spot BTC and ETH trading, with plans to add more cryptocurrencies and enable deposits and withdrawals in the future. Schwab’s retail crypto service is offered through its Premier Bank, with Paxos providing sub-custody and trade execution services.
Importantly, Schwab has made clear disclosures that crypto products on its retail platform are not FDIC insured, SIPC protected, or bank deposits and carry the risk of losing value. It remains to be seen how these protections or disclaimers will apply to the upcoming advisor platform.
Implications for the Crypto Market and Advisors
Currently, Schwab clients can access cryptocurrencies indirectly through exchange-traded products, crypto-related equities, futures, mutual funds, trusts, and listed options on spot Bitcoin exchange-traded products (ETPs). The new advisor-focused platform would represent a significant leap, enabling direct spot trading and custody, which may enhance liquidity, reduce friction, and improve portfolio diversification options for advisors’ clients.
With the total crypto market capitalization around $2.32 trillion as of this report, Schwab’s expansion into direct crypto infrastructure for advisors could potentially inject substantial new demand and legitimacy into the space.
What’s Next?
While Schwab has confirmed details surrounding the retail crypto launch, such as supported assets and fee structures, specifics about the advisor platform remain to be announced. It is unclear whether the initial advisor offering will mirror the retail product in supporting only Bitcoin and Ethereum or offer a wider range of cryptocurrencies. Additionally, fees, custody arrangements, and service providers like Paxos for the advisor rollout have yet to be disclosed.
The mid-2027 target reflects Schwab’s cautious but determined approach to integrating digital assets into the mainstream investing ecosystem through trusted advisor relationships. If successful, this initiative could reshape how advisors incorporate cryptocurrencies into wealth management strategies across the United States.
Source: TradingView News | NewsBTC
Data Provided By: ICE Data Services, FactSet Research Systems Inc.
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