Spot ETH trading and custody for retail clients (Schwab Crypto)

Schwab Crypto lets Schwab's US retail clients buy, sell and hold bitcoin and ETH in a crypto account linked to their brokerage account, offered by Charles Schwab Premier Bank, SSB, which is custodian of the coins, with Paxos providing sub-custody and trade execution. Schwab announced it on 16 April 2026, and The Block reported on 13 May 2026 that a first wave of eligible clients could now trade, in every state except New York and Louisiana. At launch clients could not deposit or withdraw crypto, so the ETH stayed in Schwab's custody; Schwab said transfers both ways would come later. This is custody of ETH itself, not tokenization.