Charles Schwab is set to broaden its cryptocurrency offerings by introducing spot trading for Bitcoin and Ethereum, according to CEO Rick Wurster.
In a Friday interview with CNBC, Wurster revealed that Schwab clients already have substantial exposure to crypto through exchange-traded products (ETPs), holding over 20% of the industry’s crypto ETP market. Still, he pointed out that digital assets remain a small part of their overall portfolios—around $25 billion out of Schwab’s total $10.8 trillion in client assets.
“We anticipate launching Bitcoin and Ether sometime soon so that our clients have access to that,” Wurster said. “We think that will be an acceleration of our growth.”
He also noted that while clients keep about 98% of their wealth with Schwab, only 1% to 2% of their crypto holdings are with the firm—most remain with digital-native platforms. “They really want to bring it back to Schwab because they trust us. They want us to sit alongside their other assets,” he added.
Schwab Set to Challenge Coinbase with Upcoming Crypto Trading Launch
Wurster confirmed that Schwab is “absolutely” aiming to compete with major crypto exchanges like Coinbase by launching spot crypto trading. “If they’re buying their crypto at Coinbase, we would love to see them bring their crypto back to Schwab,” he said.
Earlier this year, Wurster indicated that Schwab is targeting an April 2026 launch for spot Bitcoin trading services. He pointed to a 400% surge in traffic to Schwab’s crypto website as a sign of growing investor interest in digital assets.
Schwab has been steadily deepening its involvement in the crypto space amid increasing regulatory clarity. In 2025, the Office of the Comptroller of the Currency (OCC), the Federal Deposit Insurance Corporation (FDIC), and the Federal Reserve rolled back restrictive guidelines imposed after the collapse of FTX, paving the way for banks to engage in crypto activities such as custody and trading.
Following the SEC’s approval of spot crypto ETFs, Schwab added Bitcoin and Ether ETFs to its platform. The firm also offers a range of other crypto-related investment products, including blended ETFs, mutual funds, and Bitcoin options, according to its website.
Institutions ramp up crypto investments
A March survey conducted by Coinbase and EY-Parthenon revealed that 83% of institutional investors plan to increase their crypto exposure in 2025, with many already diversifying beyond Bitcoin and Ether into alternative assets.
Among those altcoins, XRP and Solana emerged as the top picks among respondents. The survey also indicated that the majority of institutions expect to allocate at least 5% of their portfolios to cryptocurrencies this year.
Similarly, a May report by Fireblocks found that 90% of institutional participants are either using or actively exploring stablecoins, with nearly half already utilizing them for payment purposes.
