- Schwab to offer direct Bitcoin and Ether trading access soon.
- Clients demand crypto options; Schwab responds with new features.
- Firm targets Coinbase users with upcoming spot crypto trading service.
Charles Schwab is gearing up to launch spot Bitcoin and Ether trading, a move that signals its intent to challenge major crypto exchanges like Coinbase. CEO Rick Wurster revealed the plan in an interview, stating that clients are increasingly interested in managing their digital assets directly through Schwab.
Wurster affirmed that the crypto exchange-traded products already have more than 20 percent of clients who are Schwab customers in the industry. Crypto represents just a small portion of the firm’s assets, namely, about $25 billion of total assets under management, $10.8 trillion; however, he noted that it is a growing direction of demand.
Also Read: India’s Richest Investors Are Quietly Pouring Millions Into Crypto Markets
After spot Bitcoin ETFs were approved in January 2024, Schwab became accepting of Bitcoin and Ether ETFs and other crypto-related products. Its platform already offers Bitcoin options, mutual funds, and mixed ETFs with diversified exposure. The new trading service will supplement those services and enable direct buying of Bitcoin and Ether.
Wurster ascertains that numerous Schwab clients already have small shares of their crypto envoys with digital-savvy companies, such as Coinbase. However, they prefer to hold all of their assets, including digital currencies, on the Schwab platform because it is trusted and transparent.
Schwab Moves Aggressively as Crypto Rules Ease
The decision comes amid shifting regulatory policies that now favor institutional involvement in digital assets. In 2025, U.S. regulators, including the OCC, FDIC, and Federal Reserve, removed previous restrictions that required pre-approval for crypto services. This paved the way for new possibilities of crypto custody and trading by banks and wealth management firms that were not constrained by the limitations set post-FTX implosion.
Although regulators have just released a joint message voicing the dangers associated with cryptos, financial companies are proceeding with expanding services. Schwab’s entry of Asset managers into spot trading is just one of the most successful ETF launches in the history of the U.S. market, which is headed by the BlackRock iShares Bitcoin Trust.
Wurster broke news that Schwab conducted a planned rivalry with such platforms as Coinbase. He observed that clients would love to roll up their digital assets with Schwab, and he was going to enable that by providing spot trading. Wurster declined to state a launch date but said that a rollout is planned for sometime soon.
Schwab’s move to enable spot Bitcoin and Ether trading places it in direct competition with top crypto exchanges. With strong client demand and relaxed regulations, the firm is positioning itself to become a central hub for digital asset investing.
Also Read: XRP ETF Odds Soar to 86% After ProShares UXRP Skyrockets on Launch Day
