Charles Schwab is bringing Bitcoin to its 39 million clients – but without the protections they expect

Charles Schwab announced this week that it will begin selling Bitcoin and Ethereum directly to its 39 million brokerage clients. They will appear in the same account view as stocks, ETFs, and retirement funds, in the same app, under the same brand, one click from the S&P 500 index fund a customer bought for their IRA. What makes that arrangement so consequential is that the assets will arrive in one of the most f…