Charles Schwab to Add Spot Bitcoin and Ethereum Trading
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Charles Schwab confirms spot Bitcoin, Ethereum trading to boost crypto reach. Schwab clients soon access direct crypto trades, adding billions in assets. GENIUS Act and CLARITY Act push big banks toward crypto services. Charles Schwab is taking a big step into the crypto world. CEO Rick Wurster recently confirmed that the company will soon launch spot trading for Bitcoin and Ethereum. This is what he said on the second-quarter earnings call of Schwab. Schwab Eyes Direct Crypto Access Amid Rising Client Assets This action implies that clients of Schwab will be able to purchase and trade in Bitcoin and Ethereum. Currently, Schwab provides crypto exposure under exchange-traded products (ETPs). The Schwab clients already have over 20% in the crypto ETP market. However, crypto only constitutes a substantial minority of Schwab client wealth which amounts to $10.8 trillion. Wurster indicated that including spot trading in Bitcoin and Ethereum would only speed up the growth of Schwab further. During an interview with CNBC, he suggested that the firm is planning to roll out these new services soon, allowing clients to access major cryptocurrencies directly. His other insinuation was that venturing into spot crypto would strengthen Schwab in the digital asset market. The second-quarter performance by Schwab was good. Adjusted earnings per share stood at $1.14 at the company. The amount of client assets increased by 14% to the level of 10.76 trillion dollars since last year. Client revenue on client trades also rose a whopping 23% to 952 million. Such figures demonstrate that the number of clients that Schwab serves keeps expanding and trading regularly. Spot crypto trading may be added, attracting more trading. That matters since Schwab is under the threat of stiff competition posed by other brokerages and large crypto exchanges such as Coinbase. Coinbase already enables real-time trading of…
Filed under: News - @ July 19, 2025 10:22 pm