Coinbase (COIN) shares fell nearly 1% in early trading on April 16, 2026. The stock dropped to approximately $194.00 per share following the announcement of a new competitor.
Charles Schwab unveiled SchwabCrypto, a new platform for direct cryptocurrency trading. The service enables retail clients to trade Bitcoin and Ethereum. A gradual rollout of the platform will occur over the coming weeks.
Charles Schwab currently manages trillions in client assets. This move signals a deeper expansion by traditional financial institutions into the digital asset sector. The launch directly challenges the market share of crypto-native exchanges like Coinbase.