The Charles Schwab Corp. this week joined other retail brokerages and financial advice firms that have expanded access of nontraditional assets to financial advisors and clients, announcing around the clock trading on select cryptocurrency futures.
Morgan Stanley, Franklin Templeton, Bank of America and others have all joined the conga line of financial advice firms that have made moves recently to put Bitcoin and other cryptocurrencies in front of financial advisors and clients.
Schwab on Tuesday said it was allowing 24 hour trading of select cryptocurrency futures, including Bitcoin, Ether, Solana and Ripple products on its thinkorswim platforms.
“This sounds like a direct to consumer play by Schwab,” said one industry executive, who spoke privately to InvestmentNews about the matter. “Financial advisors and firms are still trying to figure out how much of a client's portfolios should be in crypto currencies - 1%, 2%?”
“And advisors and firms are also trying to figure out how to get paid to manage those assets,” the executive added.
Schwab this week also said it expanded fractional trading to include most U.S. stocks and exchange-traded funds, allowing clients to invest for a set dollar amount, with a new minimum of $1.
“As retail trading continues to advance, we’re committed to adding features and resources that expand our offering and make Schwab an even more compelling place to trade,” said James Kostulias, Schwab’s Managing Director and Head of Trading Services, in a statement.
Demand for digital assets from retail investors is likely to keep increasing. Roughly one-third, 32%, of financial advisors invested in crypto for client accounts in 2025, up from 22% in 2024, according to the Bitwise/VettaFi 2026 Benchmark Survey of Financial Advisor Attitudes Toward Crypto Assets that was released earlier this year.
It’s the highest allocation in the eight-year history of the survey, which included responses from 299 financial advisors from a variety of business and employment models.
Some financial advisors have embraced digital currencies while others have not.
Bank of America said at the end of last year it was approving a 1% to 4% advisor-endorsed allocation to certain digital assets beginning in 2026 for clients of its Merrill, Bank of America Private Bank, and Merrill Edge platforms.
Then, in January, Merrill Lynch sounded the alarm bell to advisors and clients who are considering buying and investing in digital assets, according to new disclosures from the firm.
“The risks related to an investment in crypto assets are significant,” according to the updated wrap fee program brochure on file with the Securities and Exchange Commission for Merrill Lynch’s Investment Advisory Program. “Crypto assets are highly speculative and have been in existence for only a short period of time.”
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