Charles Schwab to Launch Spot Bitcoin and Ethereum Trading as Crypto Demand Grows
Charles Schwab, one of the largest brokerage firms in the U.S. with $10.7 trillion in client assets, is preparing to launch direct (spot) trading for Bitcoin and Ethereum. The move is part of a broader push to give investors a one-stop platform to manage both traditional and digital assets.
In a recent CNBC interview, Schwab CEO Rick Wurster confirmed that the firm will soon introduce spot crypto trading, aiming to meet growing demand and keep pace with industry trends. Many Schwab clients already hold crypto exposure through exchange-traded products (ETPs), which account for more than 20% of the total ETP market. But crypto still represents only about $25 billion of Schwab’s total assets.
Wurster noted that allowing clients to buy and sell Bitcoin and Ethereum directly could open the door to new growth. ”Clients want simplicity,” he said. ”They want to manage everything—stocks, bonds, ETFs, and now crypto—in one secure place.”
Challenging Coinbase, Targeting Institutional Growth
Schwab’s entry into direct crypto trading puts it in competition with established players like Coinbase. The firm already offers access to crypto ETFs, related funds, and options. Adding spot trading for BTC and ETH is the next step in its evolving crypto strategy.
Many Schwab clients currently keep most of their assets—up to 98%—on the platform, but still rely on third-party exchanges for digital currencies. Schwab wants to change that by becoming a full-service hub for all asset classes.
The timing also aligns with a more favorable regulatory environment. The U.S. House recently passed the GENIUS Act, providing clearer rules for stablecoins. Eased restrictions from banking regulators have further opened the door for traditional financial institutions to enter the crypto space.
Institutions Are Increasing Crypto Exposure
Schwab’s move reflects a broader trend among institutional investors. A March survey by Coinbase and EY-Parthenon found that 83% of institutions plan to increase crypto holdings in 2025, with growing interest in assets like XRP and Solana. Another report revealed that 90% are either using or testing stablecoins, signaling a shift from experimentation to adoption.
Strong Earnings Fuel Confidence
Schwab’s push into crypto comes as the company reports strong financial performance. Despite a recent dip in global crypto trading volumes, Schwab’s quarterly profit rose 60%, with earnings per share reaching $1.14. Client assets grew 14% year-over-year to $10.76 trillion, and trading revenue increased 23% to $952 million—partly driven by investor activity around recent U.S. tariff news.
As crypto moves further into the mainstream, Schwab sees it as a core part of its business going forward—not just a side offering.
Featured image from: coinpedia.com