A Major Brokerage Embraces Bitcoin and Ethereum
Charles Schwab, one of the largest brokerage firms in the U.S. with over $10 trillion in assets, is preparing to launch spot trading for Bitcoin and Ethereum. CEO Rick Wurster confirmed that the new services are expected to go live “sometime soon,” directly positioning Schwab as a serious competitor to crypto-native platforms like Coinbase.
What’s Driving Schwab’s Crypto Push?
The decision to offer crypto trading isn’t random—it’s based on clear customer demand and strategic foresight:
- Customer interest: Schwab clients already hold around $25 billion in U.S. crypto exchange-traded products (ETPs), representing more than 20% of the market. Yet, crypto accounts for just 0.2% of Schwab’s total managed assets. Many clients already trust Schwab with nearly all of their wealth but manage small crypto holdings elsewhere. They now want everything in one place.
- Trust and simplicity: Wurster highlighted that Schwab clients prefer viewing crypto alongside stocks, bonds, and cash in one secure dashboard. Integrating digital assets into their familiar platform offers convenience and confidence.
- Competitive edge: Schwab isn’t hiding its intentions to pull customers away from exchanges like Coinbase. As Wurster put it, “If they’re buying their crypto on Coinbase, we would love to see them bring it back to Schwab.”
Looking Beyond Trading: Stablecoin in the Works
Schwab’s crypto ambitions don’t end with spot trading. The company is actively exploring the launch of its own stablecoin. This digital asset would support blockchain-based transactions while meeting the same security standards used for traditional financial products.
The timing aligns with recent regulatory developments. The newly enacted GENIUS Act lays out a framework for stablecoins in the U.S., opening the door for institutions like Schwab to innovate safely.
Rollout Timeline and Regulatory Progress
Schwab originally revealed its crypto intentions back in November. While no specific date has been confirmed, Wurster reiterated that the rollout could happen within the next 12 months, depending on regulatory clarity.
To prepare, Schwab named Joe Vietri as head of digital assets earlier this year. Vietri is leading the charge as the firm positions itself for future crypto expansion under evolving U.S. regulations.
Schwab’s entry into direct crypto trading could dramatically increase mainstream adoption. Many conservative investors—especially retirees—may have avoided crypto due to concerns about security or lack of institutional backing. By integrating crypto into a platform they already trust, Schwab could trigger a wave of digital asset inflows from niche exchanges to its own ecosystem.
