Schwab to Launch Solana Spot Trading, SOL Surges 13%
SCHW sits 29% above its 52-week low of $83.96.
Summary
Schwab announced plans to offer Solana spot trading in the coming months, expanding its crypto lineup to five assets. The move follows its May launch of Bitcoin and Ethereum spot trading and June rollout of 24/7 futures for Solana and XRP. Schwab will charge a 0.75% flat fee per transaction, available to clients in all states except New York and Louisiana. Separately, Solana passed three deflationary proposals, including a 30% increase in disinflation rate and 100% burn of resource-based fees, which could reduce SOL emissions by 18.9 million tokens over six years. SOL jumped 13.4% on the news, now up 46% monthly. For Schwab, this deepens its crypto product suite and could attract fee-based trading volume, though the direct revenue impact is modest relative to its $186B market cap.
At the time of this announcement, SCHW was trading at $108.00 on NYSE in the Finance sector, with a market capitalization of approximately $186.9B. The 52-week trading range was $83.96 to $114.53. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Coinpedia.