Bitcoin News Today: Charles Schwab Enters Crypto Market With Bitcoin Ethereum Spot Trading

Charles Schwab, a leading financial services company, has announced its foray into the cryptocurrency market by introducing spot trading for Bitcoin and Ethereum. This strategic move is driven by the increasing demand from clients who wish to manage their cryptocurrency assets alongside their traditional investments. By offering this service, Schwab aims to provide a unified and trusted platform for clients to access both traditional and digital assets, thereby positioning itself as a formidable competitor in the crypto space.

Schwab's decision to offer spot trading for Bitcoin and Ethereum is part of its broader strategy to meet the growing client demand for consolidated asset management. Clients already hold significant amounts of cryptocurrency, and the firm's new offering will allow them to trade these assets directly through Schwab's platform. This initiative is expected to enhance the company's competitive edge by providing a comprehensive suite of financial services that includes both traditional and digital assets.

CEO Rick Wurster has confirmed that Schwab will soon launch spot trading for Bitcoin and Ethereum, aiming to help clients keep all their money, stocks, bonds, and crypto in one trusted place. Wurster noted that Schwab’s clients already hold significant exposure to crypto through exchange-traded products (ETPs), owning more than 20% of the entire ETP market. However, crypto still makes up a small slice of Schwab’s total assets, roughly $25 billion out of $10.8 trillion. Schwab thinks giving them simple spot BTC and ETH trading “sometime soon” will unlock new growth.

The timing of this move is opportune as regulatory clarity around cryptocurrencies is improving. The U.S. House recently passed the GENIUS Act, setting new rules for stablecoins. Along with relaxed restrictions from banking regulators, this has made it easier for companies like Schwab to enter the crypto market. Schwab’s entry into spot crypto trading is aimed at challenging existing players like Coinbase. After listing Bitcoin and Ether ETFs and allowing related funds and options, adding direct coins is the next logical step.

Wurster stated that many Schwab clients currently store 98% of their wealth with the brokerage but keep a small portion of crypto with other exchanges. They would rather view everything, stocks, ETFs, options, and now coins, in one secure dashboard. The push toward crypto isn’t limited to Schwab. A March survey found that 83% of institutional investors plan to increase crypto allocations in 2025, with altcoins like XRP and Solana emerging as favorites. Another study found 90% are using or testing stablecoins. Schwab wants to be ready when these allocations shift from “experimental” to “standard.”

Even though global crypto spot trading dipped last quarter, Schwab’s quarterly profit jumped 60%, EPS hit $1.14, client assets rose 14% to $10.76T, and trading revenue climbed 23% to $952M, partly boosted by heavy activity around new U.S. tariff news. For Schwab, crypto isn’t just an add-on anymore, it’s becoming part of its main business plan for the future. The launch of spot trading for Bitcoin and Ethereum by Charles Schwab is a significant development in the financial industry. It reflects the growing acceptance of cryptocurrencies as a legitimate asset class and the increasing demand from investors for access to these digital assets. The move is also indicative of the broader trend towards mainstream adoption of cryptocurrencies, as more traditional financial institutions recognize the potential of this emerging market.