Crypto Exchanges
By Jean-Luc Maracon
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Fidelity Already There, Schwab Close Behind. Schwab isn't the first big traditional name to go after this market.
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Pressure Builds on Smaller Custodians. For the crypto-native custody firms, the math gets uncomfortable fast.
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Charles Schwab is coming for the crypto custody business. The firm plans to roll out spot crypto trading, transfers, and full custody for financial advisors by mid-2027 — a move…
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Right now, advisors who want to manage client crypto positions have to go outside their main platforms. They're routing assets through Coinbase Prime, BitGo, Anchorage, and others.
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Coinbase Prime manages around $330 billion in institutional assets.
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That number is big. But Schwab sits on roughly $5 trillion in RIA custody assets — a figure Nate Geraci, President of The ETF Store, flagged when he weighed in on the announcement.
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Schwab isn't the first big traditional name to go after this market. Fidelity Digital Assets has been offering institutional custody and trade execution to advisors, family…
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Jalina Kerr, managing director at Schwab Advisor Services, put it plainly: advisors keep running into clients who hold digital assets outside their managed accounts and want to…
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More context: Coinbase Brings INR Order Books and Perpetuals to 1.4 Billion People
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The mid-2027 timeline isn't arbitrary. Schwab says it's accounting for custody architecture development, federal regulatory compliance, and trading infrastructure build-out.
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For the crypto-native custody firms, the math gets uncomfortable fast. Coinbase Prime, BitGo, Anchorage — they built their advisor-facing businesses on being the specialists.
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Pricing is probably where the fight gets real. Schwab can afford to compress margins on crypto custody if it keeps the broader advisory relationship.
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No statement from Coinbase or the other affected firms as of publication. Unclear whether they're watching and waiting or already reworking their advisor value propositions…
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See also: Wintermute Backs Kalshi and Polymarket with $3.5 Trillion Trading Firepower
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The retail rollout earlier in 2026 started with Bitcoin and Ether. The advisor product is expected to cover similar assets at launch — no word yet on whether the scope expands…
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