Charles Schwab to Launch Spot Bitcoin, Ethereum Trading

TLDR

• Charles Schwab plans to launch spot Bitcoin and Ethereum trading later this quarter through its brokerage platform.
• The firm manages over $12 trillion in client assets and will roll out the service in phases.
• Employees will receive early access, followed by invited clients, before a full public release.
• Clients will trade Bitcoin and Ethereum directly without using a separate crypto wallet or exchange.
• Charles Schwab Premier Bank, SSB, will operate the new crypto trading service.

Charles Schwab will introduce spot Bitcoin and Ethereum trading later this quarter through its brokerage platform. The firm manages more than $12 trillion in client assets and plans a phased rollout. CEO Rick Wurster confirmed the timeline during a prior earnings call and outlined internal testing before public access.

Charles Schwab to Enable Direct Bitcoin and Ethereum Trades

Charles Schwab will allow retail clients to buy and sell Bitcoin directly within existing brokerage accounts. The company will not require a separate crypto wallet or third-party exchange account. Instead, it will integrate spot trading into its current infrastructure for easier access.

The service will operate through Charles Schwab Premier Bank, SSB, which serves as a regulated banking subsidiary. Employees will receive early access during an internal testing phase before invited clients join. After that, Schwab will open the service to all eligible customers in stages.

Wurster confirmed the launch window during an earlier earnings call with analysts. He said Schwab expects spot crypto trading to go live later this quarter. He also stated that the firm prepared for this move as regulatory conditions evolved.

Brokerage Shifts From Indirect Exposure to Spot Crypto Access

Until now, Charles Schwab has offered digital asset exposure through exchange-traded products and crypto-linked equities. The firm also provided futures contracts and thematic investment portfolios tied to blockchain companies. However, clients could not trade Bitcoin or Ethereum directly on the platform.

The upcoming launch will change that structure by enabling direct spot transactions. Clients will execute trades within their standard brokerage accounts. Schwab will process orders without routing them to an external crypto exchange.

Wurster first signaled interest in spot crypto trading in late 2024. He said the firm monitored regulatory developments closely before expanding services. He added that Schwab positioned itself to act when conditions allowed.

The firm aims to compete with established crypto trading platforms. Schwab will offer Bitcoin and Ethereum trading alongside traditional securities. This structure places Schwab in direct competition with Coinbase, Robinhood, and Webull.

Wurster addressed competition during prior remarks about the rollout. He said, “We are ready to compete in spot Bitcoin and Ethereum trading.” He emphasized that Schwab intends to provide a familiar and regulated environment for clients.

Schwab already supports crypto-linked ETFs and futures within its brokerage accounts. However, the firm will now expand into direct ownership of digital assets. The rollout will follow internal testing and controlled client access before full availability.

The brokerage also plans to introduce a stablecoin product in the future. Wurster confirmed this plan after lawmakers passed the GENIUS stablecoin bill. He said the company will move forward once it finalizes operational details.

Charles Schwab expects to complete the phased rollout later this quarter. The company will announce broader access once testing concludes. For now, the firm continues internal preparations ahead of the public debut.

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