Charles Schwab to Launch Bitcoin and Ether Spot Trading: CEO Confirms
Charles Schwab Set to Launch Spot Trading for bitcoin and ethereum
Schwab’s Expansion into Cryptocurrency
Charles Schwab is gearing up to broaden its cryptocurrency services by introducing spot trading for bitcoin and ethereum, as revealed by CEO Rick Wurster in a recent CNBC interview. Wurster highlighted that Schwab clients already have substantial exposure to cryptocurrencies through exchange-traded products (ETPs), commanding over 20% of the market share in this sector. Despite this, he pointed out that cryptocurrencies still account for a modest segment of clients’ overall wealth, totaling approximately $25 billion out of a staggering $10.8 trillion.
Wurster expressed optimism about the upcoming launch, stating, “We expect to roll out bitcoin (BTC) and Ether (ETH) trading soon, which we believe will significantly boost our growth trajectory.”
Client Trust and Asset Management
The CEO noted that while many clients maintain about 98% of their wealth with Schwab, they typically allocate only 1% to 2% of their cryptocurrency assets with digital-native platforms. “Clients are eager to consolidate their holdings with Schwab due to the trust they place in us,” he remarked, emphasizing the desire for a unified asset management experience.
Competing with Major Crypto Exchanges
Wurster confirmed that Schwab is keen to position itself as a competitor to established cryptocurrency exchanges like Coinbase by offering spot trading services. “If clients are purchasing their cryptocurrencies through Coinbase, we would be thrilled to see them transfer those assets back to Schwab,” he stated.
Earlier this year, Wurster indicated that the company is targeting an April 2026 launch for its spot bitcoin trading services, citing a remarkable 400% surge in traffic to Schwab’s cryptocurrency website as a sign of growing investor interest.
Regulatory Developments and Product Offerings
Schwab’s increasing engagement in the cryptocurrency arena comes in the wake of enhanced regulatory clarity. In 2025, key financial regulatory bodies, including the Office of the Comptroller of the Currency (OCC) and the Federal Reserve, lifted previous restrictions that followed the FTX collapse, allowing banks to engage in cryptocurrency custody and trading.
Following the approval from the U.S. Securities and Exchange Commission, Schwab has also integrated bitcoin and Ether ETFs into its offerings. The firm provides a variety of crypto-related products, including mixed ETFs, mutual funds, and bitcoin options, as detailed on its website.
Institutional Interest in Cryptocurrency
A recent survey conducted by Coinbase and EY-Parthenon revealed that 83% of institutional investors plan to increase their cryptocurrency investments in 2025, with many already diversifying into altcoins beyond bitcoin and ethereum. The survey identified XRP and Solana as the most preferred assets among participants, with a majority anticipating allocating at least 5% of their portfolios to cryptocurrencies this year.
Additionally, a report from Fireblocks in May indicated that 90% of institutional players are either utilizing or exploring stablecoins, with nearly half already implementing them for payment transactions.
This article provides a comprehensive overview of Charles Schwab’s upcoming initiatives in the cryptocurrency space, highlighting the company’s strategic moves and the growing interest from institutional investors.
