Schwab to Launch Spot Bitcoin, ETH 🚀
Charles Schwab CEO Rick Wurster announced that the firm will roll out spot BTC and ETH trading "sometime soon," viewing it as a major growth area. Wurster emphasized that Schwab clients already hold over 20% of all crypto ETFs in the industry.
> Wurster also says that their clients are eager to consolidate crypto holdings from "digital native" platforms under Schwab's management.
> The move follows the relaxation of crypto restrictions by US banking regulators in 2025, allowing institutions to offer crypto services without prior approval.
> Schwab already provides access to Bitcoin and Ether ETFs, crypto-themed mutual funds, and Bitcoin options.
> The firm currently manages $10.8T in assets, with crypto making up around $25B of that.
> Wurster said Schwab aims to compete directly with exchanges like Coinbase by giving clients a trusted platform to buy and custody crypto assets.
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