Charles Schwab, one of America’s largest brokerage firms with $10.7 trillion in client assets, is moving closer to offering direct (spot) trading in Bitcoin and Ethereum. Meanwhile, CEO Rick Wurster just confirmed Schwab will soon launch spot trading for Bitcoin and Ethereum, hoping to help clients keep all their money, stocks, bonds, and crypto in one trusted place.
In a recent CNBC interview, Wurster noted that Schwab’s clients already hold significant exposure to crypto through exchange-traded products (ETPs), owning more than 20% of the entire ETP market.
However, crypto still makes up a small slice of Schwab’s total assets, roughly $25 billion out of $10.8 trillion. Schwab thinks giving them simple spot BTC and ETH trading “sometime soon” will unlock new growth.
The timing is perfect as rules for crypto are becoming clearer. The U.S. House recently passed the GENIUS Act, setting new rules for stablecoins. Along with relaxed restrictions from banking regulators, this has made it easier for companies like Schwab to move into crypto.
Schwab’s entry into spot crypto trading is aimed at challenging existing players like Coinbase. After listing Bitcoin and Ether ETFs and allowing related funds and options, adding direct coins is the next step.
Wurster stated that many Schwab clients currently store 98% of their wealth with the brokerage but keep a small portion of crypto with other exchanges. They would rather view everything, stocks, ETFs, options, and now coins, in one secure dashboard.
The push toward crypto isn’t limited to Schwab. A March survey by Coinbase and EY-Parthenon found that 83% of institutional investors plan to increase crypto allocations in 2025, with altcoins like XRP and Solana emerging as favorites.
Another study found 90% are using or testing stablecoins. Schwab wants to be ready when these allocations shift from “experimental” to “standard.”
Even though global crypto spot trading dipped last quarter, Schwab’s quarterly profit jumped 60%, EPS hit $1.14, client assets rose 14% to $10.76T, and trading revenue climbed 23% to $952M, partly boosted by heavy activity around new U.S. tariff news
For Schwab, crypto isn’t just an add-on anymore, it’s becoming part of its main business plan for the future.
Charles Schwab is one of America’s largest brokerage firms, managing $10.7 trillion in client assets across stocks, bonds, and now crypto.
No, Schwab is not owned by Bank of America. It is an independent publicly traded company listed under the ticker SCHW.
Yes, 83% of institutions plan to raise crypto allocations in 2025, with interest in Bitcoin, Ethereum, XRP, and Solana.
CoinPedia has been delivering accurate and timely cryptocurrency and blockchain updates since 2017. All content is created by our expert panel of analysts and journalists, following strict Editorial Guidelines based on E-E-A-T (Experience, Expertise, Authoritativeness, Trustworthiness). Every article is fact-checked against reputable sources to ensure accuracy, transparency, and reliability. Our review policy guarantees unbiased evaluations when recommending exchanges, platforms, or tools. We strive to provide timely updates about everything crypto & blockchain, right from startups to industry majors.
All opinions and insights shared represent the author's own views on current market conditions. Please do your own research before making investment decisions. Neither the writer nor the publication assumes responsibility for your financial choices.
Sponsored content and affiliate links may appear on our site. Advertisements are marked clearly, and our editorial content remains entirely independent from our ad partners.
The odds of the ADA/USD price reaching $1 have increased as November begins. The Cardano…
Crypto markets are gaining strength as investors anticipate another major uptrend heading into 2025. XRP…
October 2025 turned out to be a quieter month for crypto security breaches — but…
Story Highlights The live price of the AAVE token is . AAVE price could surge…
It’s been a defining week for crypto. From SBF’s latest attempt to reshape his own…
Story Highlights The live price of the Aptos token is Aptos could reach a maximum…
