Charles Schwab is rolling out direct cryptocurrency trading to its entire 39 million-strong client base within weeks, a seismic move that brings Wall Street's lowest-cost crypto execution to mainstream investors. The firm's new 'Schwab Crypto' platform will charge just 75 basis points per trade, undercutting most rivals, and will integrate digital asset portfolios directly alongside stocks and bonds across all Schwab interfaces. 'Clients who want direct access to the asset class can trade it alongside their other investments, while benefiting from the service, education, and research they expect from us,' stated Jonathan Craig, Head of Retail Investing, signaling a full-throated institutional embrace of digital assets.

Wall Street competitors join the crypto land grab

Morgan Stanley is taking similar steps with its ETrade platform, as reported by Cryptopolitan previously. The bank will partner with Zerohash to provide the infrastructure for trading, which is expected to go live in the first half of 2026. ETrade customers will initially be able to trade bitcoin, ethereum, and solana.

Jed Finn, Morgan Stanley’s head of wealth management, called it a “transformative moment” for the industry. “Offering clients the ability to trade crypto is the tip of the iceberg,” Finn told CNBC, explaining that the firm ultimately plans to build a full wallet solution for custody and tokenization of assets.

The competitive pressure is real. Robinhood pulled in more than $600 million from crypto trading last year, accounting for about one-fifth of its total revenue.

Goldman Sachs filed an application Monday for a Bitcoin Premium Income exchange-traded fund, marking one of the bank’s first direct moves into cryptocurrency investment products. The proposed fund would give investors exposure to bitcoin while generating income through selling options tied to bitcoin-linked ETPs. This strategy collects premiums in exchange for capping some upside during strong rallies.

BlackRock is preparing to launch a similar product called the iShares Bitcoin Premium Income ETF, trading under the ticker BITA. An updated regulatory filing earlier this month showed BlackRock refining the fund’s structure, with analysts expecting a launch within weeks.

Congress nears agreement on crypto regulation

The rush by major financial firms comes as Congress appears close to passing the Digital Asset Market Clarity Act, which would establish comprehensive federal rules for cryptocurrency. JPMorgan sources told CoinDesk that negotiations have entered a late stage, with most disputes resolved and only two or three issues remaining under discussion.

The bill would formalize how oversight gets divided between the Securities and Exchange Commission and the Commodity Futures Trading Commission while defining how tokens, stablecoins, and decentralized finance platforms fit within existing financial law.

Treasury Secretary Scott Bessent and other officials have urged Congress to act, warning that delays risk pushing innovation and capital to foreign markets with clearer rules.

There’s a middle ground between leaving money in the bank and rolling the dice in crypto. Start with this free video on decentralized finance.