$10 trillion Charles Schwab plans to launch spot crypto trading in next 12 months, says CEO
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Key Takeaways Charles Schwab plans to launch direct spot crypto trading within 12 months. The firm has observed a 400% increase in traffic to its crypto-focused web content. Charles Schwab, a top US brokerage firm with over $10 trillion under management, plans to roll out spot crypto trading within the next 12 months, said CEO Rick Wurster during the company’s 2025 Spring Business Update this week. Wurster added that Schwab is well on track to offer spot crypto trading and expects to introduce it once the US regulatory environment becomes favorable. “Our expectation is that with the changing regulatory environment, we are hopeful and likely to be able to launch direct spot crypto and our goal is to do that in the next 12 months and we’re on a great path to be able to do that,” said Wurster when asked about Schwab’s update on their plans for the digital asset market. Wurster reaffirmed Schwab’s plans, which he first shared in a Bloomberg Radio interview last November. At the time, the newly appointed CEO also noted the company’s readiness to enter the market in anticipation of regulatory changes under Trump’s second term. Schwab currently provides crypto-linked ETFs and crypto futures. Adding spot crypto to its product lineup could enhance its competitive position against other brokers like Robinhood and Webull. Schwab’s entry into spot trading is also expected to increase accessibility, liquidity, and legitimacy for crypto investors on its platform. The leading financial services firm is already seeing strong engagement with existing crypto investment products. “We’re seeing robust engagement with the existing crypto ETFs that can be bought in the marketplace, the closed-end funds that we make available on our platform, and Bitcoin futures, which are also available on our platform,” Wurster said yesterday. The company has observed increased interest from…
Filed under: News - @ April 19, 2025 3:28 pm