- Charles Schwab plans to add Solana, Avalanche and Chainlink to Schwab Crypto.
- The platform currently provides direct spot trading in Bitcoin and Ethereum.
- Schwab charges 0.75% of trade value with zero spread.
- Future plans include more crypto assets and in-kind deposits and withdrawals.
Charles Schwab is widening its direct crypto offering only months after entering spot trading, with Solana, Avalanche and Chainlink set to join Bitcoin and Ethereum on Schwab Crypto in the coming months. The Aug. 27 expansion gives clients access to a broader set of digital assets from the same environment they use for stocks and other investments, pushing one of America’s largest brokerage businesses further into territory historically controlled by crypto-native exchanges.
Schwab Is Moving Beyond a Bitcoin-and-Ethereum Test
Schwab began the phased rollout of direct spot crypto trading in May 2026, initially restricting the service to Bitcoin and Ethereum. Adding SOL, AVAX and LINK so soon afterward indicates that the first two assets were not intended to define the platform’s long-term boundaries.
The choice of the next three tokens is also revealing. Rather than moving immediately into a long catalog of smaller assets, Schwab said it selected established cryptocurrencies aligned with client demand.
That produces a five-asset lineup spanning different parts of the market:
- Bitcoin (BTC): the largest crypto asset and Schwab Crypto’s original offering.
- Ethereum (ETH): the second original asset and the primary token of Ethereum’s smart-contract ecosystem.
- Solana (SOL): gives clients exposure to another major smart-contract network.
- Avalanche (AVAX): extends the selection into another Layer 1 ecosystem.
- Chainlink (LINK): differs from the Layer 1 additions by providing exposure to decentralized oracle and interoperability infrastructure.
Schwab has already said the list will continue expanding, meaning SOL, AVAX and LINK are better viewed as the second stage of a broader rollout rather than a completed crypto menu.
The Bigger Competitive Shift Is Where Investors Hold Crypto
The number of supported tokens is less significant than Schwab’s attempt to change where traditional investors keep their digital assets.
Its 2025 annual report estimated that Schwab clients already represented approximately 20% of the spot crypto ETP market. The company also said clients holding cryptocurrencies elsewhere had expressed interest in bringing those assets into Schwab alongside their existing investments and banking relationships.
That creates an unusual competitive advantage.
Crypto exchanges traditionally attract customers by offering hundreds of assets, advanced trading tools and direct blockchain withdrawals. Schwab does not need to replicate that catalog immediately if its existing brokerage customers prefer the convenience of managing crypto beside stocks, ETFs, options and other investments.
The company is integrating digital assets across Schwab.com, Schwab Mobile and thinkorswim, allowing crypto positions to sit alongside traditional investments rather than requiring a separate exchange relationship.
For investors who already use Schwab as their primary financial platform, reducing that fragmentation may be more valuable than having access to hundreds of additional tokens.
Schwab’s 0.75% Fee Reveals Who the Product Is Built For
Schwab charges 75 basis points, or 0.75%, of the dollar value of each crypto trade, with its website advertising zero spread.
That pricing provides another clue about the product’s positioning.
Schwab is not attempting to compete exclusively for high-frequency crypto traders who optimize execution around fractions of a percentage point. Its stronger proposition is consolidation: crypto can become another portfolio allocation within an established brokerage relationship.
A $10,000 transaction, for example, would generate a $75 trading fee at the stated rate. For an occasional investor establishing or adjusting a longer-term allocation, the convenience of consolidated portfolio management may offset that cost. Frequent traders are likely to compare it much more closely with crypto-native venues.
Schwab also combines trading with research, educational material and round-the-clock customer support, reinforcing the positioning of crypto as another investment category within its broader wealth platform.
Custody Shows How Traditional Finance Is Entering Spot Crypto
The operational structure behind Schwab Crypto is particularly relevant because Schwab is not building every component internally.
According to the company’s latest quarterly filing, Charles Schwab Premier Bank, SSB serves as custodian of clients’ digital assets, while regulated blockchain infrastructure provider Paxos has been engaged as sub-custodian and provides trade execution services. Schwab said it may appoint additional sub-custodians over time.
This structure separates the customer relationship from parts of the underlying crypto infrastructure.
Schwab controls the interface, portfolio experience and client relationship, while specialist infrastructure handles functions that require digital-asset-specific technology. That approach allows an established financial institution to enter spot crypto without reproducing the entire operational stack of a crypto exchange.
It also highlights an important distinction for customers: cryptocurrency offered through Schwab Crypto is not a bank deposit, is not FDIC insured and is not protected by SIPC. Schwab explicitly warns that investors can lose their entire principal.
In-Kind Transfers Could Matter More Than Adding Another Token
The next stage of Schwab’s crypto strategy may ultimately be more consequential than today’s three-asset announcement.
In its second-quarter filing, Schwab said it intends to introduce in-kind deposits and withdrawals, which would allow customers with crypto held elsewhere to transfer those assets into and eventually out of the Schwab platform.
That functionality changes the competitive equation.
Without transfers, a customer wanting to move an existing crypto position to Schwab could potentially need to sell it elsewhere and repurchase it through the new account, introducing trading costs and potentially tax consequences. Direct transfers remove much of that friction and make Schwab a more realistic destination for existing crypto wealth rather than only newly purchased assets.
It would also move Schwab closer to the functionality users expect from crypto-native platforms, where the ability to deposit and withdraw assets onchain is a basic feature.
Schwab has not provided a firm date for those transfer capabilities, while SOL, AVAX and LINK are only described as arriving “in the coming months.” The company also reserves the ability to delay or withdraw support for announced assets in response to regulatory, operational, market or risk developments.
That makes two developments worth watching after the three new tokens go live: how quickly Schwab broadens the asset list again, and when customers gain the ability to move existing crypto directly onto the platform. Those changes would provide a clearer indication of whether Schwab Crypto remains an investment add-on or develops into a more direct competitor for assets currently held at crypto-native exchanges.
Source: https://www.crypto-news-flash.com/charles-schwab-pushes-deeper-into-crypto-with-sol-avax-and-link/
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