Charles Schwab will open three more tokens to its 39.9 million brokerage accounts, adding Solana (SOL), Avalanche (AVAX) and Chainlink (LINK).
Key Points:
- Schwab will add Solana, Avalanche and Chainlink to its Schwab Crypto platform in the coming months, lifting supported spot assets from two to five.
- The platform launched in May with Bitcoin and Ether only and charges 75 basis points on the dollar value of each trade.
- Schwab held $13.04 trillion in client assets across 39.9 million active brokerage accounts at the end of July.
Schwab Crypto Expands Past Bitcoin And Ether
The brokerage announced the plan Thursday, saying the three assets will reach Schwab Crypto accounts in the coming months and that the selections track client demand for established cryptocurrencies.
Until now the platform has carried only spot Bitcoin (BTC) and Ether (ETH), so the additions lift the supported roster from two to five. Schwab charges 75 basis points on the dollar value of each trade.
Joe Vietri, the firm's head of digital assets, said clients will gain more room to build a digital asset allocation alongside the investing and banking services they already use at Schwab. The company said it plans to keep adding cryptocurrencies and other digital assets over time, though it set no date for the three new listings and named no candidates beyond them.
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Why 39.9 Million Schwab Accounts Matter
Scale is what separates the listing from a routine exchange announcement.
Client assets totaled $13.04 trillion at the end of July, spread across 39.9 million active brokerage accounts, 2.4 million banking accounts and 5.9 million workplace plan participants. The Solana account on X welcomed the decision, casting it as direct access for a client base of that size.
Competitors are working the same ground, with Coinbase and Robinhood listing hundreds of tokens and Morgan Stanley piloting crypto on E*Trade at a fee reported below Schwab's retail rate. Schwab has kept its own list deliberately short and parked it beside the stocks and bonds clients already hold. The accounts are still closed to residents of New York and Louisiana.
Advisor Custody Push Targets 2027
A larger prize sits behind the retail platform, and the firm targets the middle of 2027 for spot trading, transfers and custody built for registered investment advisors.
Those advisors route more than $5 trillion through Schwab's custody arm, and they currently send client crypto allocations to specialist firms that sit outside the brokerage entirely.
The expansion caps a rapid year for a company that spent much of the past decade keeping digital assets at arm's length from its retail clients. Schwab became a founding investor in the institutional exchange EDX Markets back in 2022, then opened retail spot trading in Bitcoin and Ether this spring through execution partner Paxos.
In June it switched on the first round-the-clock product in its history, offering nearly 24/7 futures on Bitcoin, Ether, Solana and XRP (XRP) across its thinkorswim platforms.
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