Charles Schwab Corp. CEO Rick Wurster has revealed that the prominent US financial services firm, with over $10 trillion under management, is aiming to roll out spot crypto trading within the next 12 months.
Charles Schwab Is “On A Great Path” To Launch Direct Spot Crypto Trading
Charles Schwab currently allows clients to access crypto via vehicles like exchange-traded funds (ETFs), closed-end funds, and futures.
But CEO Rick Wurster, who stepped into the role in January, said during the company’s 2025 Spring Business Update this week that they are “on a great path” to launch support for spot crypto trading by April 2026. Wurster argues this will be possible due to the rapidly changing regulatory environment in the U.S.
“Our expectation is that with the changing regulatory environment, we are hopeful and likely to be able to launch direct spot crypto. Our goal is to do that in the next 12 months, and we are on a great path to be able to do that.”
Once launched, millions of Schwab clients will be able to buy crypto directly with their brokerage account. The company’s move into spot crypto trading signals a broader shift among traditional financial institutions adapting to investor demand.
“As I’ve said numerous times in past, spot crypto trading will be table stakes for every major brokerage.” ETF Store president Nate Geraci posited on X in response to the Schwab news.
In a November 2024 interview, Wurster said the company was interested in providing services to clients who want to trade digital assets. At the time, Wurster indicated that Schwab wanted to offer crypto directly to its clients once regulatory conditions improve.
Following the re-election of Donald Trump in the United States, Wurster said the financial services company expected the shifting regulatory winds under the new administration to expand its digital asset services.
The Schwab CEO previously said he had personally not invested in crypto, adding that he felt “silly” for not buying digital assets as they continued to enjoy eye-watering gains.
