Charles Schwab to Launch Crypto Trading for Bitcoin and Ether

AI Summary

Charles Schwab (SCHW) introduced its crypto trading platform, Schwab Crypto, allowing clients to trade bitcoin and ether. The brokerage, managing over $11 trillion in client assets, aims to compete with Robinhood, which has a younger demographic. Schwab will charge a 0.75% fee per trade, lower than Fidelity's 1% and Robinhood's variable fees. Following a revenue miss, Schwab shares fell 5% on Thursday, highlighting ongoing market challenges despite the expansion into crypto offerings.