Bitcoin News Today: Charles Schwab to Launch Bitcoin Ethereum Spot Trading in 12 Months

Charles Schwab, a leading brokerage firm, has announced its plans to launch spot trading services for Bitcoin and Ethereum. This significant development was confirmed by CEO Rick Wurster, who emphasized the company's commitment to expanding its financial services to include direct access to top cryptocurrencies. The move aligns with Schwab's broader strategy to establish a comprehensive hub for client assets, encompassing stocks, bonds, and cryptocurrencies.

Wurster highlighted that the changing regulatory environment has created a favorable landscape for the launch of direct spot crypto trading. According to him, the company is on track to achieve this goal within the next 12 months. This initiative is expected to increase institutional participation in the crypto market, potentially boosting liquidity and engagement by offering direct access to Bitcoin and Ethereum.

Schwab's decision to enter the spot trading market for Bitcoin and Ethereum is driven by several factors. The firm has observed a significant rise in user interest, with a 400% increase in traffic to its digital asset website earlier this year. This surge in interest, coupled with the firm's existing range of bitcoin-related products, including ETFs and mutual funds, positions Schwab as a strong contender in the digital asset market.

Institutional interest in digital assets continues to grow, with a March survey indicating that 83% of institutional investors intend to increase their bitcoin allocations in 2025. Many institutions expect to allocate at least 5% of their portfolios to digital assets this year. This trend is reinforced by additional research showing widespread institutional exploration of stablecoins and other blockchain-based payment tools.

Schwab's move to offer spot trading for Bitcoin and Ethereum is also a response to recent regulatory changes. The reversal of restrictive guidelines by the OCC, FDIC, and Federal Reserve has enabled banks like Schwab to participate more actively in digital asset custody and trading. This regulatory shift has paved the way for traditional institutions to enter the digital asset market, providing a more secure and trusted environment for clients.

By offering a consolidated platform for both traditional and digital assets, Schwab aims to provide a seamless and trusted experience for its clients. This move is expected to not only attract new clients but also retain existing ones by meeting their evolving investment needs. Schwab's entry into the spot trading market for Bitcoin and Ethereum is a strategic move to capitalize on the growing demand for digital assets, positioning the firm as a key player in the evolving financial landscape.