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Key Takeaways: Charles Schwab intends to roll out spot crypto trading within 12 months. The prices of Bitcoin and Ethereum soared after the announcement. Institutional investors are expected to drive U.S. crypto market growth. Charles Schwab Launches Crypto Trading amid Race for Retail Investors Charles Schwab, one of the world’s biggest asset managers, with $7.13 trillion under management, is planning to offer spot cryptocurrency trading within the next year. Company CEO Rick Wurster took a question on the firm’s strategy during a recent earnings call where he said Schwab is “hopeful and likely” to allow for direct crypto transactions by mid-2026. The launch will cover Bitcoin and Ethereum, placing Schwab among traditional financial giants entering the cryptocurrency space. The shift arrives as public interest in cryptocurrencies grows. Morgan Stanley recently unveiled plans to offer crypto trading to its e-trade clients as part of a larger trend of U.S.-based financial institutions. Anticipation of positive regulatory changes is also driving these efforts. Schwab’s crypto offer is aimed at investors who already participate in traditional markets but are becoming more interested in digital assets. Recently, the company observed an increase of 400% in traffic to its crypto-related content and potential new clients comprised 70% of these visitors, Wurster said. The Market Reacted Immediately; Prices Spiked The news triggered an immediate market reaction. Bitcoin rose by 3.2%, increasing from around $58,400 to $60,270 within an hour of the announcement, as of May 1, 2025, according to CoinMarketCap data. Ethereum followed a similar path, at $2,900 and rising 2.8% to $2,981. These increases were followed by significant spikes in volume. Bitcoin’s 24-hour volume increased 18% to $32.4 billion and Ethereum’s rose 15% to $14.7 billion, Binance market data shows. Another interesting development on the liquidity front was the tremendous increase in liquidity depth – according…

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Filed under: News - @ May 10, 2025 3:25 pm