Charles Schwab to Launch Spot Bitcoin and Ethereum Trading

Charles Schwab is preparing to offer direct spot trading for Bitcoin and Ethereum, according to CEO Rick Wurster.

In an interview with CNBC, Wurster stated that Schwab clients currently hold significant exposure to cryptocurrency through exchange-traded products (ETPs), representing more than 20% of the industry’s crypto ETP market.

“We anticipate launching Bitcoin and Ether shortly,” Wurster said. “We believe this will accelerate our growth.”

The CEO suggested many customers retain their crypto assets primarily with digital-native exchanges, while seeking to consolidate their holdings with traditional financial firms like Schwab.

Schwab to Compete Against Coinbase

Wurster confirmed the company’s intent to directly compete with crypto exchanges like Coinbase by offering spot trading services.

While previously aiming for a 2026 launch, officials now indicate the services will be available “sometime soon.”

Schwab’s expansion follows recent regulatory developments allowing traditional financial institutions to participate more actively in crypto activities. Last year’s regulatory changes rescinded restrictions imposed after the collapse of FTX.

Institutional Crypto Investment Trends

A March survey by Coinbase and EY-Parthenon found 83% of institutional investors plan to increase cryptocurrency holdings in 2025.

The analysis identified XRP (XRP) and Solana (SOL) as favored altcoins beyond the dominant Bitcoin and Ethereum. Most surveyed institutions anticipate allocating 5% or more of their portfolios to digital assets in 2025.

Meanwhile, a separate Fireblocks report indicates stablecoins are being widely deployed by institutional investors for various financial purposes.