"I strongly believe that these developments are in the interest of justice for Mr. Floyd, his family, our community and our state," Minnesota Attorney General Keith Ellison said in announcing the charges.
Thomas Lane and J. Alexander Kueng, who helped restrain Floyd, and Tou Thao, who stood near the others, were not initially charged. Lane, 37, Kueng, 26, and Thao, 34, are now charged with aiding and abetting second-degree murder and aiding and abetting second-degree manslaughter.
Chauvin, 44, was arrested last week and is being held at the Minnesota Department of Corrections facility in Oak Park. His bail was increased to $1 million Wednesday, court documents show.
Lane, Kueng and Thao were taken into custody Wednesday and are being held on $1 million bail, county jail records show.
Kueng's attorney, Tom Plunkett, said in a statement that his client "was asked to turn himself in to face charges" Wednesday afternoon and was in custody 15 minutes later.
Second-degree murder and aiding and abetting second-degree murder are punishable by up to 40 years in prison. Manslaughter and aiding and abetting manslaughter are punishable by up to 10 years in prison.
"FAMILY REACTION: This is a bittersweet moment. We are deeply gratified that (Ellison) took decisive action, arresting & charging ALL the officers involved in #GeorgeFloyd's death & upgrading the charge against Derek Chauvin to felony second-degree murder," he said.
Still, he said that he believes Chauvin should be charged with first-degree murder, which requires intent, and the charges only represent the first steps toward justice.
"We cannot celebrate because an arrest is not a conviction and we want justice," Crump told reporters on Wednesday. "We want whole justice."
Crump noted neither he or the family have reviewed the footage from the officers body cameras.
At the news conference, Ellison insisted that the protests did not influence the charges.
"I did not allow public pressure to impact our decision-making process," he said. "We made these decisions based on the facts that we gathered since this matter occurred and made these charges based on the law that we think applies."
Ellison was appointed by Gov. Tim Walz to take over the case from Hennepin County Attorney Mike Freeman on Sunday.
A former Democratic congressman, Ellison had cautioned against a rush to judgment, citing the difficulty of prosecuting police officers.
"We're confident in what we're doing, but history does show that there are clear challenges here," Ellison said.
Walz said in a statement that the new charges are a meaningful step.
"The charges announced by Attorney General Keith Ellison today are a meaningful step toward justice for George Floyd. But we must also recognize that the anguish driving protests around the world is about more than one tragic incident," he said.
"George Floyd's death is the symptom of a disease. We will not wake up one day and have the disease of systemic racism cured for us. This is on each of us to solve together, and we have hard work ahead. We owe that much to George Floyd, and we owe that much to each other."
CNN's Konstantin Toropin, Andy Rose, Nicole Chavez, Kara Devlin and Gregory Lemos contributed to this report.