Charles Schwab expands crypto access with Solana, Avalanche, and Chainlink

00:00 Speaker A

Charles Schwab adds Solana, Avalanche, Chainlink to crypto platform. This is native Solana, Avalanche and Chainlink, not ETF or some kind of wrapped institutional exposure.

00:09 Speaker A

This joins the announcement that we had before that they were offering Bitcoin and Ethereum spot trading. Now, to be clear, you cannot transfer these assets on and off, but you can buy and hold the spot assets on Charles Schwab's platform.

00:20 Speaker A

Chucky. Chuck Schwab.

00:23 Speaker A

This is going to happen in the coming months, and once again, uh the fees here will be 75 basis points like they are with Bitcoin and Ethereum.

00:32 Speaker A

So just to like put in perspective how big this is, right? It doesn't mean that all these people are going to buy these three very random assets that they've added.

00:43 Speaker A

But Schwab oversees more than 12 trillion dollars in client assets with approximately 39 million active brokerage accounts.

00:52 Speaker A

So, joining Bitcoin and Ethereum is not the big story for Solana, Avalanche and Chainlink here. The big story is that it sits alongside customers stocks, bonds, ETFs, and cash.

01:06 Speaker A

This makes a crypto allocation far easier for investors who in the past would have had to go open an OKX or a Coinbase account to get exposure.