schwab just flipped on BTC and ETH trading for 46m accounts sitting on ~$11.8t in assets, with an average balance around $256k. this isn’t about retail clicking the green button—it’s about schwab’s third-party custody (almost certainly coinbase custody) turning every advisor allocation into COIN fee income while also commoditizing coinbase’s own trading business. schwab can charge ~75 bps and its clients won’t leave for a cheaper venue. the real flow starts when ~21,000 RIAs add 1–3% BTC into model portfolios during Q3/Q4 2026 rebalances: systematic allocation across hundreds of billions. if schwab posts record crypto volume on a BTC move >85k, that’s your sell signal, not your entry; this is the same client base that top‑ticked gold in 2011. accumulate into quiet advisor positioning, fade the volume spike once the boomers arrive. // zero illusion