The financial service provider has started rolling out Schwab Crypto Accounts. This gives eligible retail customers a way to trade Bitcoin and Ethereum [ETH] directly through the same platform they use for traditional investments.
For now, the feature is available to most US residents, excluding New York, Louisiana, US territories and international users at this stage.
To access crypto trading, users must already have a qualifying Schwab brokerage account, such as an individual or joint account.
It also depends on location-based eligibility requirements.
The new offering is supported by Schwab Premier Bank as custodian, while Paxos will handle transaction execution and sub-custodianship. Schwab also plans to charge a trading fee of 75 basis points.
Capital flows positive for Bitcoin
Access increases and capital returns.
Bitcoin’s realized capital boost has risen above zero for the first time in six weeks, after bottoming out at the end of April. This measure tracks how quickly capital moves into the chain.
The timing here is especially curious because this positive turnaround was driven by $898 million in Bitcoin ETF inflows. The demand is also not limited to one channel.
How does the BTC price hold up?
At the time of writing, Bitcoin’s price action was still holding near the $80,000 zone. This, even though things have slowed since last week’s highs. On the daily chart, BTC was trading around $79,742 at the time of writing – down 0.92%.
The RSI had fallen to 56.08, close to neutral territory. At the same time, Chaikin money flow was also negative at -0.03. Buying pressure also seemed to have decreased.
Simply put, while capital flows have improved, the signals on the spot chart appeared mixed. For the next move, it will be very important to maintain the $79,000-$80,000 range.
Final summary
- Charles Schwab was launched immediately Bitcoin And Ethereum commerce for eligible retail users.
- Although Bitcoin capital flows have turned positive again, BTC still faces short-term pressure near $80,000.