Charles Schwab Opens Bitcoin and Ether Trading to Retail Clients for First Time
Charles Schwab opens spot bitcoin and ether trading to retail clients today for the first time in the firm's history, as JPMorgan quietly files for its second ethereum-based tokenized money market fund and the Senate prepares to mark up the most sweeping crypto market structure legislation since the GENIUS Act. BitGo Holdings and DeFi Development Corp. both report Q1 earnings after the close, and Strategy's Michael Saylor takes the stage at 5 PM ET for a live retail Q&A that traders will be parsing for any signal on the pace of future bitcoin accumulation. Stay up on the crypto news that matters with "Crypto Currents," daily from The Fly. Join us at 2 PM ET for your essential briefing on the fast-moving world of cryptocurrency on FlyCast radio.SCHWAB CRYPTO GOES LIVE TODAY:Charles Schwabofficially opened Schwab Crypto to its first wave of eligible U.S. retail clients this morning,via its dedicated crypto-trading webpage. The service offers direct bitcoinand ethertrading at a 75-basis-point flat fee via Schwab.com and its trading platform thinkorswim, with Charles Schwab Premier Bank as custodian and Paxos handling sub-custody and execution. The launch covers all U.S. states except New York and Louisiana, targeting approximately 38M-39M brokerage accounts and approximately $11.8T in client assets.Schwab is the single largest traditional finance on-ramp to spot bitcoin and ether for retail by account count, a structural shift that puts direct competitive pressure on Coinbase, Robinhood Markets, and PayPalacross the retail crypto distribution landscape.BITCOIN RECLAIMS $81K:Bitcoin bounced to approximately $81,200 Wednesday morning as traders positioned ahead of President Trump's arrival in Beijing for talks with President Xi covering trade and AI. Nvidia'sJensen Huang joined the delegation alongside Elon Musk of Tesla, Tim Cook of Apple, and Larry Fink of BlackRockas a last-minute addition. Bitcoin's 200-day exponential moving average at approximately $82,037 and the 61.8% Fibonacci retracement at $83,437 remain the confirmed breakout triggers for the next leg higher.that Strategy'sSTRC perpetual preferred stock structure unlocks capacity to purchase approximately 3,127 bitcoin, approximately $253M at $81K, within this two-day window. Saylor and CEO Phong Leat 5:00 PM ET today on X and YouTube. any forward guidance on additional purchases will be a direct price catalyst for Strategy's preferred instruments.BITGO AND DEFI DEVELOPMENT:BitGo Holdingsreports Q1 results after the close today with an earnings call at 5:00 PM ET,via a press release. BitGo is the first publicly listed pure-play institutional crypto infrastructure company offering custody, wallets, staking, trading, financing, and stablecoin services from regulated cold storage via its federally chartered BitGo Bank & Trust, NA. Revenue and custody AUM growth will set the tone for the broader institutional crypto services sector.DeFi Development Corp.also reports Q1 results after the close at approximately 4:15 PM ET with a video update from CEO Joseph Onorati and CFO John Han,. DeFi Development Corp. is the first U.S. public company with a treasury strategy built to accumulate and compound solana. Any new solana purchases disclosed are the key metric alongside NAV versus share price spread.JPMORGAN TOKENIZED MMF AND INFRASTRUCTURE:JPMorganAsset Management filed with the SEC for the JPMorgan OnChain Liquidity-Token Money Market Fund, which issues ethereum-based tokens representing a portfolio of U.S. Treasuries and repo agreements structured to comply with the GENIUS Act,. The filing follows JPMorgan's MONY fund and coincides with a Bloomberg feature on the firm's $13T repo market blockchain integration, underscoring ethereum's growing role as institutional settlement infrastructure.Eightco Holdingsof approximately $340M, including 277M+ Worldcointokens representing about 9% of circulating supply, 11,000+ ether, a $90M OpenAI equity stake, and $25M in Beast Industries equity.PRICE ACTION:As of time of writing, bitcoin was trading at $78,806.03, while ether was trading at $2,233.17,.
