According to CEO Rick Wurster, Charles Schwab is preparing to expand its crypto products by launching spot trading for Bitcoin and Ethereum.
In an interview with CNBC on Friday, Wurster said Schwab’s clients own more than 20% of the industry’s Crypto ETP market and are already heavily exposed to cryptography via Exchange-Traded products (ETPS). However, he said that cryptography remains a relatively small portion of clients’ total wealth, representing around $25 billion out of $10.8 trillion.
“We expect to launch Bitcoin (BTC) and Ether (ETH) soon. “I think it will accelerate our growth.”
The CEO claimed that while many clients now hold 98% of their wealth in Schwab, they own just 1% to 2% of the crypto assets of digital native companies. “They trust us, so they really want to take it back to Schwab. They want us to sit with other assets,” he added.
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Schwab competes with Coinbase
Wurster said Schwab “absolutely” sees competing against crypto exchanges like Coinbase by introducing Spot Crypto Trading. “If they’re buying ciphers from Coinbase, we want to see them bring their ciphers back to Schwab,” he said.
Earlier this year, Wurster said the company hopes the April 2026 launch window will provide Schwab clients with spot-bitcoin trading services. At the time, he cited a 400% increase in traffic to Schwab’s crypto website as evidence of investors’ interest in digital assets.
Schwab has increased its involvement in the crypto sector amid increasing clarity in its regulations. In 2025, the Secretary of Currency (OCC), Federal Deposit Insurance Corporation (FDIC), and the Federal Reserve revoked previous restrictions guidelines issued after the collapse of the FTX. This change allows banks to participate in cryptographic activities such as custody and transactions.
Following approval from the US Securities and Exchange Commission, Schwab added Bitcoin and etheric ETFs to its platform. The company also offers other crypto-related products, including mixed ETFs, mutual funds and Bitcoin options, according to its website.
Related: Crypto Tops Fixed Income on ETF Investor Wishlist: Schwab Survey
Institutions increase crypto investment
A survey conducted in March by Coinbase and Ey-Parthenon found that 83% of institutional investors are planning to increase Crypto Holdings in 2025, with many already investing in Altcoin beyond Bitcoin and ether.
In this survey, XRP (XRP) and Solana (SOL) were identified as the most preferred assets among respondents. It also showed that most people expect to allocate more than 5% of their portfolios to cryptocurrencies this year.
Similarly, a May report by Fireblocks found that 90% of the institution’s players were using or exploring Stablecoins.
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