Charles Schwab, according to CEO Rick Wurster, is preparing to expand its crypto offerings by launching Bitcoin and Ethereum spot trading. This decision comes in light of growing client interest in cryptocurrencies.
Plan for Spot Trading Launch
In an interview with CNBC, Wurster stated that Schwab clients already hold significant exposure to crypto via exchange-traded products (ETPs), representing more than 20% of the market. However, crypto still constitutes a small portion of total assets, about $25 billion out of $10.8 trillion. "We anticipate launching Bitcoin and Ether sometime soon so that our clients have access to that," he said. Wurster noted that many clients want to bring their crypto assets back to Schwab due to the trust they have in the firm.
Competition with Crypto Exchanges
Wurster added that Schwab is "absolutely" looking to compete with crypto exchanges like Coinbase by introducing spot crypto trading. "If they’re buying their crypto at Coinbase, we would love to see them bring their crypto back to Schwab," he said. Earlier this year, the company announced an expected launch window for these services in April 2026. Wurster cited a 400% increase in traffic to Schwab’s crypto website as evidence of client interest in digital assets.
Increased Interest from Institutional Investors
A survey conducted by Coinbase and EY-Parthenon found that 83% of institutional investors plan to increase their crypto holdings in 2025, with many already investing in altcoins beyond Bitcoin and Ethereum. The survey identified XRP and Solana as the most favored assets among respondents. It also showed that most expect to allocate 5% or more of their portfolios to cryptocurrencies this year. Similarly, a report by Fireblocks found that 90% of institutional players are using or exploring stablecoins.
Overall, Charles Schwab confirms its intentions to enter the crypto spot trading market, which may affect the current landscape of crypto investments and offer an alternative for clients of existing crypto exchanges.
