Key Takeaways
- Charles Schwab plans to launch direct spot crypto trading within 12 months.
- The firm has observed a 400% increase in traffic to its crypto-focused web content.
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Charles Schwab, a top US brokerage firm with over $10 trillion under management, plans to roll out spot crypto trading within the next 12 months, said CEO Rick Wurster during the company’s 2025 Spring Business Update this week.
Wurster added that Schwab is well on track to offer spot crypto trading and expects to introduce it once the US regulatory environment becomes favorable.
“Our expectation is that with the changing regulatory environment, we are hopeful and likely to be able to launch direct spot crypto and our goal is to do that in the next 12 months and we’re on a great path to be able to do that,” said Wurster when asked about Schwab’s update on their plans for the digital asset market.
Wurster reaffirmed Schwab’s plans, which he first shared in a Bloomberg Radio interview last November. At the time, the newly appointed CEO also noted the company’s readiness to enter the market in anticipation of regulatory changes under Trump’s second term.
Schwab currently provides crypto-linked ETFs and crypto futures. Adding spot crypto to its product lineup could enhance its competitive position against other brokers like Robinhood and Webull.
Schwab’s entry into spot trading is also expected to increase accessibility, liquidity, and legitimacy for crypto investors on its platform.
The leading financial services firm is already seeing strong engagement with existing crypto investment products.
“We’re seeing robust engagement with the existing crypto ETFs that can be bought in the marketplace, the closed-end funds that we make available on our platform, and Bitcoin futures, which are also available on our platform,” Wurster said yesterday.
The company has observed increased interest from potential new customers, with its crypto-focused web content attracting 400% more traffic recently. Wurster noted that 70% of these visitors were prospects rather than existing clients.
“As people in the industry are thinking about crypto, they’d love to work with a trusted brand and a firm that can bring them a lot of capabilities and we’re that firm,” Wurster said.
Earlier this year, Charles Schwab inked a partnership with Trump Media and Technology Group (TMTG) to launch a financial services and fintech brand called Truth.Fi.
The new division is aimed at offering a range of investment products, including ETFs, separately managed accounts (SMAs), Bitcoin, and other crypto or crypto-related securities. Schwab will provide asset custody and advise on Truth.Fi’s investments and strategy.
The partnership includes an approved investment of up to $250 million to be custodied by Schwab, focusing on American growth, manufacturing, energy companies, and investments that support the “Patriot Economy.”
The expansion into financial services is positioned as a natural extension of Trump Media’s ecosystem, which began with the Truth Social platform, and aims to provide American patriots with investment options outside of mainstream financial institutions.
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