Charles Schwab Plans Bitcoin and Ethereum Trading

Charles Schwab could soon take a step deeper into crypto. The company is already a major player in traditional finance, but now it appears ready to offer direct access to Bitcoin and Ethereum trading.

Good to know

• Charles Schwab clients currently hold over 20% of all crypto ETFs in the market.
• The company manages around $10.8 trillion in total client assets.
• Bitcoin and Ethereum trading could be made available soon, according to CEO Rick Wurster.

Wurster shared in a CNBC interview that many clients already have crypto exposure—but not necessarily through Schwab. Even though $25 billion of client funds are tied up in crypto-related exchange-traded products, that is just a small portion of the overall assets managed.

He pointed out that clients trust Schwab with nearly all their investments, yet still use digital-native firms for crypto. That disconnect could shift if Schwab introduces Bitcoin and Ethereum trading under its own platform. “They might hold a percent or 2% at some digital native firm to hold their crypto,” Wurster said. “They really want to bring it back to Schwab because they trust us.”

He believes the move will drive further growth, as clients would prefer to have all their investments in one place. Schwab has seen growing demand from clients who want to manage their crypto alongside stocks, bonds, and other traditional assets.

When asked whether Schwab is aiming to go head-to-head with Coinbase, Wurster did not hesitate. “Absolutely,” he replied.

The company has not provided an exact timeline for the rollout. Still, based on Wurster’s remarks, the launch could happen relatively soon. If Schwab does go live with Bitcoin and Ether trading, it could shake up the space by combining crypto access with one of the most trusted names in finance.