$12 trillion Charles Schwab expected to debut spot Bitcoin, Ethereum trading this quarter

Schwabs spot crypto trading is expected to go live later this quarter, as confirmed by CEO Rick Wurster during an earnings call last year.

Schwab plans to roll out its upcoming service in phases. Employees will get early access during an internal testing period, followed by invited clients, before the platform becomes available to all customers.

A shift from indirect exposure

Until now, Schwabs approach to digital assets relied on indirect exposure through exchange-traded products, crypto-linked equities, futures contracts, and thematic investment portfolios.

Under the new offering, retail investors will be able to buy and sell Bitcoin and Ethereum directly within Schwabs existing brokerage infrastructure, with no separate crypto wallet or third-party exchange account required.

The service will be operated through Charles Schwab Premier Bank, SSB, a regulated banking subsidiary.

Schwab aims to rival Coinbase in crypto offerings

Wurster first hinted at Schwab‘s move into spot crypto trading in late 2024, highlighting the firm’s preparation for a changing regulatory landscape under the Trump administration.

Schwab already provides crypto-linked ETFs and futures, but launching spot trading would let the brokerage compete with platforms like Coinbase, Robinhood and Webull, giving clients more direct access to Bitcoin and Ethereum.

Wurster said Schwab is ready to challenge Coinbase with its upcoming spot Bitcoin and Ethereum trading. The firm also plans a stablecoin offering following the passage of the GENIUS stablecoin bill.