Schwab Crypto Adds Solana, Avalanche and Chainlink, Expanding Offering to Five Assets

Schwab Crypto has added Solana, Avalanche and Chainlink alongside Bitcoin and Ether, bringing its supported cryptocurrencies to five. Eligible retail clients can buy and sell SOL, AVAX and LINK against the US dollar from November 9, Charles Schwab announced.

The US brokerage first announced plans for the three additions in August. Their launch follows the broader rollout of Schwab Crypto, which began with early access for small groups of customers in May. Bitcoin and Ether trading became available to all eligible retail clients in October.

The service operates in all US states except New York and Louisiana, with US territories and international jurisdictions also excluded.

Separate Accounts, a 0.75% Trading Fee

Clients use a separate Schwab Crypto account offered by Charles Schwab Premier Bank, SSB, linked to an eligible Schwab brokerage account.

They can fund it by moving available cash from the linked brokerage account. Schwab charges 0.75% of the value of each purchase or sale, with a minimum fee of $0.01.

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Clients can view and trade their crypto holdings alongside traditional investments through Schwab.com, Schwab Mobile and thinkorswim. Schwab’s account terms also provide for round-the-clock customer support.

Under the custody arrangements outlined at launch, Charles Schwab Premier Bank safeguards clients’ digital assets and maintains ownership records, while Paxos provides sub-custody and trade execution.

Cryptocurrency holdings are not covered by FDIC insurance or SIPC protection.

Adding Direct Ownership to Existing Crypto Exposure

Schwab’s customers already had several ways to invest in digital assets before spot trading launched. These included crypto ETPs and futures, options on spot crypto ETPs, and funds investing in the wider digital asset sector.

In its April launch announcement, Schwab estimated that its clients held approximately 20% of spot crypto ETPs. That company estimate referred to holdings of exchange-traded products, not direct ownership of cryptocurrencies.

The spot service adds direct crypto holdings to those existing investment routes. Charles Schwab described the launch as a way for customers to conduct more of their financial activities with the firm and eventually bring existing digital assets onto its platform.

That transfer capability is now being introduced gradually. According to Schwab’s current FAQ, clients can send and receive supported cryptocurrencies once their accounts have been enabled and they have enrolled in transfers.