Charles Schwab has announced the launch of a waitlist for its upcoming "Schwab Crypto" account, marking its entry into the cryptocurrency market. The service, set to debut in the first half of 2026, will initially allow employees and select clients to trade Bitcoin and Ethereum. This move signifies Schwab's shift from a crypto skeptic to a market participant, joining other Wall Street firms in embracing digital assets. The "Schwab Crypto" account will be offered through Charles Schwab Premier Bank, rather than standard brokerage accounts, and will not be available in all states or insured. The rollout will begin with internal testing, followed by a limited client release in the second quarter of 2026. Schwab's entry into spot crypto trading positions it as a competitor to platforms like Coinbase and Robinhood, with potential future expansions into other cryptocurrencies and products.