Charles Schwab is preparing to expand its crypto offerings by launching spot trading for Bitcoin and Ethereum, according to CEO Rick Wurster.
In an interview with CNBC on Friday, Wurster said Schwab clients already hold significant exposure to crypto via exchange-traded products (ETPs), owning more than 20% of the industry’s crypto ETP market. However, he noted that crypto still represents a relatively small portion of clients’ total wealth, around $25 billion out of $10.8 trillion.
“We anticipate launching Bitcoin (BTC) and Ether (ETH) sometime soon so that our clients have access to that,” he said. “We think that will be an acceleration of our growth.”
The CEO claimed that many clients currently keep 98% of their wealth with Schwab but hold just 1% to 2% of their crypto assets with digital-native firms. “They really want to bring it back to Schwab because they trust us. They want us to sit alongside their other assets,” he added.
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Schwab to compete against Coinbase
Wurster said that Schwab is “absolutely” looking to compete against 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, Wurster said the company expects an April 2026 launch window to provide spot Bitcoin trading services to Schwab clients. At the time, he cited a 400% increase in traffic to Schwab’s crypto website as evidence of investor interest in digital assets.
Schwab has increased its involvement in the crypto 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of the Comptroller of the Currency (OCC), the Federal Deposit Insurance Corporation (FDIC), and the Federal Reserve rescinded earlier restrictive guidelines issued after the…
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