Charles Schwab is expanding its crypto ambitions beyond Bitcoin and Ethereum, announcing plans to add Solana, Avalanche and Chainlink to its Schwab Crypto platform. The move will give eligible investors direct access to five major cryptocurrencies from the same financial ecosystem where they already manage stocks, ETFs and other traditional investments.
The expansion comes just three months after Schwab began rolling out direct Bitcoin and Ethereum trading in May. SOL, AVAX and LINK are expected to become available “in the coming months,” although Schwab hasn’t announced an exact launch date.
Before 2026, Schwab customers could gain crypto exposure through products such as ETFs, futures and crypto-related stocks, but couldn’t directly buy cryptocurrencies through the company.
That changed with the launch of Schwab Crypto, which began rolling out to eligible retail customers in May with BTC and ETH.
The next expansion will bring the platform to five assets:
Schwab also confirmed that it intends to add more cryptocurrencies and digital assets over time.
The size of Schwab makes the expansion significant.
The company reported approximately $13.04 trillion in client assets and 39.9 million active brokerage accounts at the end of July.
Instead of opening an account at a crypto-native exchange, eligible Schwab customers can manage crypto alongside their traditional investments through Schwab.com, Schwab Mobile and thinkorswim.
Joe Vietri, Schwab’s Head of Digital Assets, said the expansion gives customers more choices when incorporating digital assets into their broader investment portfolios.
That distribution could be particularly important for Solana, Avalanche and Chainlink because it puts the assets in front of a massive pool of traditional investors who may never have used a dedicated crypto exchange.
Schwab isn’t attempting to match the hundreds of cryptocurrencies available through many crypto-native exchanges.
Instead, the brokerage says it is focusing on established cryptocurrencies that align with customer demand.
The platform currently charges 75 basis points, or 0.75%, on the dollar value of each crypto trade.
Schwab Crypto is offered through Charles Schwab Premier Bank, while Paxos provides trade execution and sub-custody services.
There are also some important limitations. Schwab Crypto accounts are currently unavailable in New York and Louisiana, and the cryptocurrencies aren’t FDIC insured or SIPC protected.
Schwab’s expansion represents another major shift in how traditional financial companies approach cryptocy.
The company previously disclosed that its customers already held approximately 20% of the spot crypto exchange-traded product market. Many of those customers also held crypto elsewhere and expressed interest in bringing more of their financial assets under Schwab’s umbrella.
Now Schwab isn’t simply giving those investors exposure through ETFs.
It’s competing for the actual crypto trade.
That creates a growing challenge for companies such as Coinbase and other crypto-native exchanges. Investors who already trust Schwab with their retirement accounts, stocks and other investments may increasingly see little reason to open another platform just to buy major cryptocurrencies.
Bitcoin and Ethereum opened that door in May.
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