- Charles Schwab will offer direct Bitcoin and Ethereum trading soon. Clients manage all assets together securely in one established platform.
- Schwab holds $10.7 trillion in client assets. Clearer U.S. regulations, like the GENIUS Act, support this crypto trading expansion.
Charles Schwab will begin letting clients trade Bitcoin and Ethereum directly. Rick Wurster, the company’s CEO, confirmed this plan. Schwab clients will manage these cryptocurrencies alongside stocks and bonds within their existing Schwab accounts.
Schwab holds $10.7 trillion in client assets. Currently, clients access crypto mainly through exchange-traded products (ETPs). These ETP holdings at Schwab account for over 20% of the total ETP market value. However, the total crypto value at Schwab remains relatively small, approximately $25 billion. The firm believes direct spot trading will meet increasing client requests and support future growth.
Clearer U.S. regulations support Schwab’s decision. Recent actions include the GENIUS Act passing in the House. This law sets rules for stablecoins. Banking regulators have also eased some restrictions. These changes make it more practical for large financial firms like Schwab to handle cryptocurrencies.
This positions Schwab against crypto exchanges like Coinbase
Many Schwab clients keep almost all their wealth, about 98%, with Schwab. Yet, they often use separate platforms for cryptocurrency. Wurster explained clients want one secure place to see all their investments. Previously, Schwab listed Bitcoin and Ethereum ETFs. It also allowed related funds and options trading. Therefore, adding direct coin trading follows logically.
Interest in crypto extends beyond Schwab
A March 2025 survey by Coinbase and EY-Parthenon found that 83% of institutional investors intend to add more crypto this year. While Bitcoin and Ethereum are primary choices, altcoins like XRP and Solana are seeing increased allocation. Additionally, 90% of institutions are either using or experimenting with stablecoins. Schwab aims to be ready as these trial investments become routine.
Schwab reported strong financial results recently
Quarterly profit rose 60%. Earnings per share reached $1.14. Total client assets grew 14% to $10.76 trillion. Trading revenue increased 23%, reaching $952 million. Activity related to new U.S. tariffs contributed to these gains. This performance occurred even as global crypto spot trading volumes decreased last quarter.
