Schwab Targets Mid-2027 Crypto Custody for $5 Trillion Advisor Channel

On June 4 Charles Schwab confirmed plans to deliver spot crypto trading, transfers and custody for its 16,000 RIAs overseeing more than $5 trillion by mid-2027. The announcement follows June 2-3 revelations that the firm would launch 24/7 futures on Bitcoin, Ether, Solana and Ripple via thinkorswim and would expand its April 2026 retail spot offering (75 bps via Paxos) into the institutional channel. With $12.6 trillion in total client assets and 10.3 million daily trades, Schwab’s move positions it to consolidate fragmented crypto holdings and compete with Coinbase Prime and Fidelity Digital Assets. Bitcoin traded near $67,000, about 45% below its October 2025 peak, as structural access continued to widen.