Charles Schwab Launches Direct Bitcoin and Ethereum Trading Amid Significant ETF Outflows
Charles Schwab Rolls Out Bitcoin, Ethereum Trading As ETF Outflows Hit $233 Million
Benzinga
Image: Benzinga
Charles Schwab Corp. has introduced direct trading for Bitcoin and Ethereum to select retail clients, coinciding with $233 million in net outflows from Bitcoin spot exchange-traded funds (ETFs). This move marks a significant shift in Schwab's crypto offerings, allowing clients to trade cryptocurrencies directly.
- 01Charles Schwab launched direct trading for Bitcoin and Ethereum for select retail clients.
- 02Bitcoin spot ETFs experienced $233.25 million in net outflows on May 12, 2023.
- 03BlackRock and Fidelity led the outflows, with significant losses in their Bitcoin and Ethereum funds.
- 04Schwab Crypto charges a 75-basis-point fee per trade and is available in all U.S. states except New York and Louisiana.
- 05Schwab reported $11.77 trillion in client assets and a 38% increase in adjusted net income year-over-year.
Advertisement
In-Article Ad
On May 12, 2023, Charles Schwab Corp. (NYSE:SCHW) rolled out direct trading for Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH) to select retail clients, coinciding with significant outflows from Bitcoin spot exchange-traded funds (ETFs) totaling $233.25 million. BlackRock's iShares Bitcoin Trust (NASDAQ:IBIT) and Fidelity's Wise Origin Bitcoin Fund (BATS:FBTC) were the primary contributors to these outflows, losing $32.95 million and $86.13 million, respectively. Ethereum ETFs faced even greater percentage losses, with $130.62 million exiting, primarily from BlackRock's iShares Ethereum Trust (NASDAQ:ETHA) and Fidelity's Ethereum Fund (BATS:FETH). The launch of Schwab Crypto allows clients to trade cryptocurrencies directly, a significant expansion from previous offerings limited to ETFs and derivatives. Schwab charges a 75-basis-point fee per trade, and the service is available in all U.S. states except New York and Louisiana. As of March 2026, Schwab reported $11.77 trillion in client assets and a 38% increase in adjusted net income year-over-year, raising questions about the shift of retail investments from ETFs to direct cryptocurrency trading.
Advertisement
In-Article Ad
This shift allows investors to access cryptocurrencies directly through a trusted brokerage, potentially changing how retail investors allocate their funds.
Advertisement
In-Article Ad
Reader Poll
Do you think direct cryptocurrency trading is better than investing through ETFs?
Connecting to poll...
Read the original article
Visit the source for the complete story.