Charles Schwab plans to offer spot trading for Bitcoin and Ethereum, aiming to attract clients who wish to consolidate their crypto assets with their traditional assets.
Charles Schwab is preparing to expand its cryptocurrency offerings with the launch of spot trading for Bitcoin and Ethereum, according to CEO Rick Wurster.
In an interview with CNBC on Friday, Wurster stated that Schwab customers already have significant exposure to cryptocurrencies through exchange-traded products (ETPs), as they own more than 20% of the cryptocurrency ETP market in the sector. However, he noted that cryptocurrencies still represent a relatively small part of clients' total assets, around USD 25 billion out of a total of USD 10.8 trillion.
"We expect to launch Bitcoin
BTC
101,455 €
and Ether
ETH
3051 €
shortly so that our customers can access them," he stated. "We believe this will accelerate our growth."
The CEO said that many customers currently hold 98% of their assets at Schwab, but only between 1% and 2% of their crypto assets in native digital companies. "They really want to come back to Schwab because they trust us. They want us to be alongside their other assets," he added.
Schwab will compete against Coinbase
Wurster stated that Schwab is "absolutely" looking to compete with cryptocurrency exchanges like Coinbase by introducing spot trading for cryptocurrencies. "If you are buying your cryptocurrencies on Coinbase, we would love for you to bring them back to Schwab," he said.
Earlier this year, Wurster said that the company expects to launch Bitcoin spot trading services for Schwab customers in April 2026. At that time, he cited a 400% increase in traffic to Schwab's cryptocurrency website as evidence of investor interest in digital assets.
Schwab has increased its presence in the cryptocurrency sector amid growing regulatory clarity. In 2025, the Office of the Comptroller of the Currency (OCC), the Federal Deposit Insurance Corporation (FDIC), and the Federal Reserve rescinded the restrictive guidelines issued after the FTX collapse. The change allows banks to engage in cryptocurrency-related activities, such as custody and trading.
After the approval of the U.S. Securities and Exchange Commission, Schwab added Bitcoin and Ether ETFs to its platform. The company also offers other cryptocurrency-related products, such as mixed ETFs, mutual funds, and Bitcoin options, according to its website.