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Financial services giant Charles Schwab is set to introduce spot trading for Bitcoin and Ethereum, marking a significant expansion into cryptocurrency markets. CEO Rick Wurster revealed the plans during a CNBC interview, positioning the move as a response to growing client demand for integrated digital asset services.
The brokerage firm currently holds 【20%】 of the crypto ETP market share through client investments, though digital assets represent just 【0.23%】 of Schwab's total $10.8 trillion in client assets. Wurster emphasized the company's goal to consolidate crypto holdings alongside traditional investments, noting that clients currently maintain 98% of their wealth with Schwab while using external platforms for digital assets.
——We would love to see them bring their crypto back to Schwab—— Wurster stated, directly referencing Coinbase as a competitor. The planned 2026 launch follows a 【400%】 surge in traffic to Schwab's crypto-related pages, signaling strong investor interest. The firm already offers Bitcoin ETFs, Ether ETFs, and crypto-linked derivatives, with spot trading representing the next phase of its digital asset roadmap.
The decision comes after U.S. banking regulators rescinded post-FTX collapse restrictions in 2025, permitting financial institutions to engage in crypto custody and trading. Schwab's move aligns with broader institutional trends—a recent Coinbase/EY survey found 【83%】 of institutional investors plan to increase crypto allocations this year, with particular interest in altcoins like XRP and Solana.
Analysts view Schwab's entry as validation of cryptocurrency's maturation within traditional finance. The brokerage's massive client base could significantly boost liquidity in spot markets, while its reputation may attract previously hesitant investors. Fireblocks research indicates 【90%】 of institutions are already exploring stablecoin applications, suggesting Schwab may expand offerings beyond BTC and ETH in future phases.