Charles Schwab (NYSE:SCHW) is set to launch Schwab Crypto, granting its 39 million active brokerage account holders access to Bitcoin (BTC) and Ethereum (ETH) trading. This phased rollout confirms a timeline for a second-quarter launch, allowing clients to trade these cryptocurrencies through dedicated accounts linked to their traditional brokerage accounts. Unlike previous offerings that provided indirect exposure through exchange-traded funds and derivatives, this new platform enables direct trading. However, it will initially disable digital asset deposits and withdrawals, requiring clients to purchase BTC or ETH directly through Schwab. Notably, the service will not be available to residents of New York and Louisiana. Schwab's move into crypto trading positions it against established platforms like Coinbase (NASDAQ:COIN) and Robinhood (NASDAQ:HOOD), as the firm reported $12.22 trillion in client assets, enhancing its competitive edge in the digital asset space. The platform will charge 75 basis points per transaction, and Schwab plans to expand its offerings by adding more cryptocurrencies and enabling transfers in the future, although no specific timeline has been provided.