Charles Schwab to Launch Bitcoin and Ether Trading, Taking Aim at Coinbase’s Retail Lead
Charles Schwab is preparing to roll out direct bitcoin (BTC) and ether (ETH) trading for retail clients, CEO Rick Wurster confirmed Friday on CNBC. The move sets the $10.8 trillion brokerage on a collision course with Coinbase as it expands deeper into the crypto space.
“Clients want simplicity — they want crypto held alongside traditional investments,” said Wurster. Schwab’s upcoming offering will integrate digital asset trading directly into its core platform, allowing users to manage crypto alongside equities, ETFs, and bonds.
Currently, Schwab offers crypto exposure only through ETFs and structured products, holding a commanding 20% market share in crypto-linked exchange-traded products. But this expansion into direct spot trading marks a major strategic shift aimed at satisfying growing investor demand.
When asked whether the firm intends to compete head-to-head with Coinbase, Wurster was unequivocal: “Absolutely.”
The timing aligns with broader momentum in the U.S. crypto industry. President Trump is expected to sign the GENIUS Act into law — a milestone regulatory package that will provide clearer federal guidelines for digital asset firms. Schwab’s move reflects confidence in a more favorable legal environment for large financial institutions entering crypto markets.
While no launch date was provided, the new service is expected to appeal to Schwab’s traditionally cautious, higher-net-worth clientele — many of whom have avoided crypto-native exchanges due to custody and compliance concerns.
Schwab shares jumped 2.9% to $95.80 on Friday, briefly touching a 52-week high of $97.50. The firm’s market cap now stands at $174.07 billion, with a P/E ratio of 28.47 and a 1.13% dividend yield, according to Google Finance.
