Charles Schwab Plans to Launch Crypto Trading
Updated: May 2, 2025
Charles Schwab, a prominent player in the financial services industry, has announced plans to enter the cryptocurrency trading market. The company’s CEO, Rick Wurster, shared insights during an appearance on Yahoo Finance’s Opening Bid podcast, stating, "There are many ways for clients to get invested in crypto at Schwab. We provide a lot of insights and education around crypto."
Upcoming Launch of Spot Crypto Trading
Wurster revealed that Charles Schwab is committed to launching spot cryptocurrency trading within the next year, initially focusing on Bitcoin and Ethereum. The new trading features will be integrated into Schwab’s Thinkorswim platform, followed by availability on Schwab.com and the mobile application. The move is seen as part of Schwab’s strategy to cater to everyday investors looking to incorporate digital currencies into their portfolios.
However, Wurster clarified that the firm does not intend to venture into the volatile meme coin market, indicating a focus on more established cryptocurrencies. "Those are areas we will leave to the side and let someone else make available," he stated, emphasizing Schwab’s dedication to serving a diverse range of investors.
Industry Context and Competitor Moves
Charles Schwab’s foray into crypto trading comes as other traditional financial institutions are also exploring opportunities within the cryptocurrency space. Notably, executives at Morgan Stanley are reportedly looking to introduce similar trading options on their E*Trade platform by 2026, according to a Bloomberg report.
Both Schwab and Morgan Stanley are navigating a shifting regulatory environment that has become more favorable under recent political changes. Following the election of President Trump, the Securities and Exchange Commission (SEC) has relaxed certain restrictions, dropping lawsuits against several notable cryptocurrency trading platforms like Coinbase and Robinhood. This shift has opened doors for established brokers to enter the cryptocurrency market.
Market Response and Future Trajectory
Despite the renewed interest from traditional financial institutions, the cryptocurrency market has faced challenges. Bitcoin recently experienced a drop of more than 10% during the first 100 days of the Trump administration, amid concerns surrounding trade tariffs and general market risk aversion.
Analysts maintain a bullish perspective on Bitcoin’s long-term potential, citing its finite supply of 21 million coins and growing demand. Bernstein analyst Gautam Chhugani pointed out that approximately 95% of the remaining 1.1 million bitcoins will be mined within the next decade, contributing to a strong supply-demand dynamic.
As Charles Schwab prepares for its crypto trading launch, the firm aims to position itself as a leader in providing cryptocurrency access to retail investors, reflecting broader trends within the investment community.
For further updates and insights into the evolving landscape of cryptocurrency and investment opportunities, listen to the full segment on Opening Bid.
Author: Brian Sozzi, Executive Editor at Yahoo Finance
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