Charles Schwab Corp. this week became the latest major retail brokerage to broaden access to digital assets, announcing 24-hour trading of select cryptocurrency futures on its thinkorswim platforms. The move aligns Schwab with a growing list of financial advice firms—including Morgan Stanley, Franklin Templeton, and Bank of America—that have recently expanded their crypto offerings to advisors and their clients.
Starting Tuesday, Schwab clients can trade futures contracts tied to Bitcoin, Ether, Solana, and Ripple around the clock. The firm also expanded fractional trading to cover most U.S. stocks and exchange-traded funds, allowing clients to invest with a minimum of $1. “As retail trading continues to advance, we’re committed to adding features and resources that expand our offering and make Schwab an even more compelling place to trade,” said James Kostulias, Schwab’s managing director and head of trading services, in a statement.
Industry observers note that Schwab’s latest move is primarily a direct-to-consumer play. One executive, who spoke on condition of anonymity, told InvestmentNews that “financial advisors and firms are still trying to figure out how much of a client's portfolios should be in crypto currencies—1%, 2%? And advisors and firms are also trying to figure out how to get paid to manage those assets.”
Demand for digital assets among retail investors and their advisors shows no signs of slowing. According to the Bitwise/VettaFi 2026 Benchmark Survey of Financial Advisor Attitudes Toward Crypto Assets, released earlier this year, 32% of financial advisors invested in crypto for client accounts in 2025, up from 22% in 2024. That marks the highest allocation in the survey’s eight-year history, which polled 299 advisors across various business models.
Bank of America signaled its own commitment to digital assets late last year, approving a 1% to 4% advisor-endorsed allocation to certain digital assets beginning in 2026 for clients of its Merrill, Bank of America Private Bank, and Merrill Edge platforms. In January, however, Merrill Lynch issued cautionary disclosures to advisors and clients considering crypto investments, underscoring the industry’s ongoing ambivalence.
The expansion of crypto trading comes as advisors increasingly seek access to alternative assets. RFG Advisory recently integrated iCapital's alternatives platform to meet advisor demand for private markets, highlighting a broader trend toward nontraditional investments. Meanwhile, regulatory changes are reshaping retail trading: the SEC and Finra recently eliminated the $25,000 PDT minimum, ushering in exposure-based margin for retail traders.
Schwab’s move also reflects the intensifying competition among brokerages to capture retail trading volume. With Vanguard’s VOO ETF recently breaking the $1 trillion barrier, and IRA assets hitting $18 trillion, firms are vying for a share of the growing wealth-management market. Schwab’s 24/7 crypto futures trading could help it attract a new generation of investors seeking round-the-clock access to digital assets.
As the landscape evolves, advisors remain divided on crypto’s role in portfolios. Some have fully embraced digital currencies, while others remain cautious. The Bitwise/VettaFi survey suggests that adoption is accelerating, but the industry has yet to settle on a standard allocation or fee model for managing these assets.
