Charles Schwab has announced plans to add Solana, Avalanche and Chainlink to its crypto platform in the coming months, extending direct trading beyond Bitcoin and Ethereum for its U.S. retail clients.
Key Takeaways
Schwab Crypto will add SOL, AVAX and LINK, taking its planned token lineup to five
The brokerage reported $13.1 trillion in client assets and 39.8 million active accounts in Q2
SOL rose more than 9% over 24 hours, while AVAX and LINK recorded smaller gains
Schwab charges 0.75% per crypto transaction and plans to add more digital assets over time
Charles Schwab Selects Three Established Altcoins
Charles Schwab said in an Aug. 27 announcement that clients will be able to buy and sell Solana (SOL), Avalanche (AVAX), and Chainlink (LINK) through Schwab Crypto in the coming months. A launch date was not disclosed. The additions will take Schwab Crypto's planned selection from two assets to five. Bitcoin and Ethereum were the only cryptocurrencies available when direct trading began earlier in 2026.
With this expansion, clients will have more choices to build a digital asset allocation alongside the investing and banking experience they know and trust at Schwab.
— Joe Vietri, Schwab's head of digital assets
Schwab said it chose the three tokens after considering customer interest and focusing on established digital assets. The company did not publish its selection criteria or provide details about trading limits for the incoming assets. XRP, Hyperliquid, and Zcash were not included in the announcement despite public requests from some crypto users. This connects to the broader altcoin adoption trend covered in Solana's inflation cut vote and Bitwise Solana ETF crossing $1B.
Schwab Crypto Builds on Bitcoin and Ethereum Launch
In August, Schwab rolled out direct Bitcoin and Ethereum trading at a fee of 75 basis points, or 0.75% of the dollar value of each transaction. Charles Schwab Premier Bank holds customer assets, while Paxos provides trade execution and sub-custody. Clients can view their crypto holdings alongside stocks, bonds, exchange-traded funds, and other investments through Schwab.com, Schwab Mobile, and thinkorswim. At the end of the second quarter, Schwab reported $13.1 trillion in total client assets and 39.8 million active brokerage accounts. The firm also recorded $7.1 billion in quarterly revenue, up 21% from a year earlier, while daily average trades increased 57% to 11.9 million. CEO Rick Wurster previously said clients held about $25 billion in crypto exchange-traded products through the company. This connects to the earlier Schwab altcoin coverage.
Pricing Places Schwab Between Competitors
Pricing places Schwab between several financial competitors. Its 0.75% transaction fee sits below Fidelity's reported charge of about 1% but above the 0.5% fee attached to Morgan Stanley's E*Trade crypto service. E*Trade included Solana alongside Bitcoin and Ethereum during its pilot, giving Schwab another reason to add support for assets outside the two largest cryptocurrencies. Zerohash provides infrastructure for Morgan Stanley's offering, while Schwab relies on Paxos for execution and sub-custody.
SOL, AVAX and LINK Rise After Announcement
Solana traded at about $104.84 after the announcement, gaining more than 9% over 24 hours. Its intraday range stretched from $95.23 to $105.55, while reported trading volume climbed almost 70%. Avalanche rose about 2% within an hour of the news, according to market data. Chainlink also gained more than 2% during the same period and extended its 24-hour increase beyond 5%. The token advances also followed a rally across several large cryptocurrencies, making it difficult to attribute the full move to Schwab's announcement alone.
