Charles Schwab, a brokerage firm with $10.7 trillion in assets under management, is set to roll out spot trading for Bitcoin and Ethereum. CEO Rick Wurster highlighted the significance of these cryptocurrencies for the company's long-term growth.
Charles Schwab's Cryptocurrency Trading Plans
Rick Wurster first revealed Schwab's plans to start spot crypto trading last November and reiterated these plans in the firm's Spring 2025 Business Update. He stated that the deployment would depend on a better regulatory environment in the US.
CITE_W_A: "Our expectation is that with the changing regulatory environment, we are hopeful and likely to be able to launch direct spot crypto and our goal is to do that in the next 12 months and we’re on a great path to be able to do that," Wurster said.
Current Situation of Cryptocurrency Trading Volumes
Charles Schwab's interest in crypto trading comes as spot crypto volume fell by 22% in Q2 2025. Spot trading volumes on major centralized exchanges dropped from $5.3 trillion in Q4 2024 to $4.6 trillion in Q1 2025 and then further decreased to $3.6 trillion in Q2, according to data from TokenInsight. Despite this, Bitcoin's price saw a significant gain of 25% in Q2 due to inflows into Bitcoin funds and more companies utilizing Bitcoin.
Financial Achievements and Trump's Tariffs Impact
It was also revealed today that Charles Schwab benefited from a surge in trading activity related to President Trump's tariffs, which increased profits by 60% compared to the prior year. The brokerage reported a 14% rise in client assets totaling $10.76 trillion. Earnings per share were $1.14 with revenues from client trades rising 23% to $952 million.
Charles Schwab's plans for launching spot trading of cryptocurrencies and a stablecoin underline a growing interest in the crypto market, despite fluctuations in trading volumes. The company aims to leverage this strategy to advance in the market amid changing regulatory conditions.
