Charles Schwab unveils its long-awaited crypto investing product, Schwab Crypto, with a 0.75% fee on every crypto trade and plans to launch in the coming weeks

Charles Schwab has finally pulled back the curtain on its long-anticipated crypto play. The brokerage giant announced Schwab Crypto on Thursday, a product that will let clients trade bitcoin and ether directly through the platform.

The service comes with a 0.75% fee on trades. Not exactly bargain-basement pricing, but it's Schwab — they're betting the brand name and existing client base will do the heavy lifting.

One important caveat: this isn't live yet. Schwab said it plans to launch the product in the coming weeks, so crypto-curious Schwab clients will need to sit tight a bit longer.

The move marks a significant step for one of the largest retail brokerages in the U.S., bringing crypto trading to a massive pool of traditional investors who've been waiting for their platform of choice to finally get in the game.