Financial services giant Charles Schwab is gearing up to broaden its digital currency offerings, with plans to roll out direct trading capabilities for Bitcoin and Ethereum, according to statements made by CEO Rick Wurster.
During a recent interview featured on CNBC, Wurster highlighted that Schwab’s clientele already maintains a noteworthy presence in the crypto market through exchange-traded products (ETPs). He indicated that Schwab’s clients account for over 20% of the investment flowing into the crypto ETP sector. However, he clarified that cryptocurrency holdings represent a comparatively small fraction of the total assets managed by Schwab’s clients, approximately $25 billion out of a total of $10.8 trillion.
“We anticipate launching Bitcoin (BTC) and Ether (ETH) trading options in the near future, ensuring our clients have ready access to these digital assets,” Wurster stated. “We believe this will significantly contribute to our growth trajectory.”
The CEO explained that many Schwab customers currently entrust the firm with managing approximately 98% of their overall wealth, while allocating only a minor 1% to 2% of their crypto assets to specialized crypto platforms. “They are eager to consolidate their assets back with Schwab, drawn by our established reputation for trust and security. They prefer to have their crypto holdings managed alongside their other investments,” he added.
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Schwab Aims to Compete with Crypto Exchanges
Wurster explicitly stated Schwab’s intention to directly compete with established crypto exchanges, such as Coinbase, through the introduction of spot crypto trading. “We would be delighted to see clients who are currently purchasing crypto through Coinbase transfer their holdings back to Schwab,” he affirmed.
Earlier in the year, Wurster had suggested that the company anticipates launching spot Bitcoin trading services for its clients around April 2026. At that time, he pointed to a significant 400% surge in traffic to Schwab’s crypto-related website as a clear indicator of growing investor interest in digital assets.
Schwab’s increased involvement in the cryptocurrency space coincides with an evolving regulatory environment. In 2025, key regulatory bodies, including the Office of the Comptroller of the Currency (OCC), the Federal Deposit Insurance Corporation (FDIC), and the Federal Reserve, withdrew certain restrictive guidelines initially implemented following the FTX collapse. This policy shift allows banking institutions to engage in crypto-related activities, encompassing custody and trading services.
Following regulatory clearance from the U.S. Securities and Exchange Commission (SEC), Schwab incorporated Bitcoin and Ether ETFs into its platform. The company’s website further indicates its provision of various other crypto-linked products, including blended ETFs, mutual funds, and Bitcoin options.
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Institutional Crypto Investments on the Rise
A study conducted in March by Coinbase in collaboration with EY-Parthenon revealed that a significant 83% of institutional investors plan to increase their crypto allocations in 2025, with many already venturing into altcoins beyond Bitcoin and Ether.
The research identified XRP (XRP) and Solana (SOL) as particularly favored assets among respondents. It also indicated that the majority of participants anticipate allocating 5% or more of their investment portfolios to cryptocurrencies this year.
Similarly, a report released in May by Fireblocks revealed that an impressive 90% of institutional entities are either actively utilizing or exploring the potential of stablecoins, with nearly half already employing them for payment purposes.
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