Charles Schwab Expands into Bitcoin and Ethereum Spot Trading
Charles Schwab, a leading financial services firm, is expanding its cryptocurrency offerings with the introduction of Bitcoin and Ethereum spot trading. CEO Rick Wurster announced this strategic move in a recent CNBC interview, highlighting the firm’s commitment to meeting client demand for integrated digital and traditional asset management.
Client Trust and Market Position
Wurster noted that Schwab clients already account for over 20% of the crypto exchange-traded products (ETPs) market. Despite this significant share, cryptocurrencies remain a small portion of the firm’s total managed assets, indicating substantial growth potential in this sector.
Competing with Crypto Exchanges
Schwab aims to compete with established crypto exchanges like Coinbase by offering spot trading services. The firm seeks to attract clients looking to consolidate their crypto holdings with a trusted and reliable financial partner.
Regulatory Green Light and Future Plans
This expansion follows increased regulatory clarity in the U.S., including the SEC‘s approval of Bitcoin and Ethereum ETFs. Schwab has since enhanced its crypto-related offerings, which now include mixed ETFs, mutual funds, and Bitcoin options.
Institutional Interest in Cryptocurrencies
A Coinbase and EY-Parthenon survey found that 83% of institutional investors plan to increase their crypto holdings in 2025, with growing interest in altcoins like XRP and Solana. This trend reflects broader acceptance of cryptocurrencies as a legitimate asset class.
