The news: Charles Schwab intends to make Solana, Chainlink, and Avalanche available for trading. It currently offers Bitcoin and Ethereum, the two largest cryptocurrencies by market cap. Solana is 16.8% the size of Bitcoin, Chainlink is 1.0%, and Avalanche is 0.2%, but each is extremely liquid.

In April, Schwab announced that it would roll out spot Bitcoin and Ethereum trading to clients, starting with a phased release in May.

Zoom out: Schwab is years behind Fidelity in crypto: Fidelity launched its digital assets division in 2019, its crypto platform is broadly available to retail customers, and it announced its own stablecoin in January and Solana trading in late 2025. Schwab is also behind fintech: Robinhood first made waves when it competed trading commissions down to zero, and it has expanded into private market investing, stablecoins, and 24-hour trading.

According to our report Banking Trends H2 2026, consumers are increasingly engaging with financial platforms beyond traditional banks and brokerages, which is broadening the range of consumer products and making alternatives easier to access.

But it’s bigger than just crypto: 32% of Gen Z adults own or are considering crypto or event contracts, and 35% of millennials own or are considering owning crypto and 24% event contracts. Younger investors appear to be losing faith in traditional asset classes.

Implications brokerages: Legacy brokerage firms are stuck between being boring and predictable to investors and capturing Gen Zers’ and millennials’ wealth-transfer assets. Financial firms depend on safety and security to compete with new entrants, but it may not be enough if they don't offer the products that consumers demand.

The middle road is building crypto trading and other alternative assets into platforms owned by brands that already have broad customer trust. The hope is that a traditional brand offering products that customers want will make brokerage firms competitive in the long run with younger consumers. But they have catching up to do.

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