Charles Schwab CEO Rick Wurster confirmed during an earnings call that the financial services giant will introduce spot trading for Bitcoin (BTC) and Ethereum (ETH) on its platform within the next year. The $10.1 trillion asset manager views this move as a meaningful growth driver, responding to client demand for integrated cryptocurrency access alongside traditional assets.
Wurster emphasized Schwab's commitment to innovation, stating the firm won't shy away from disruption. The initial rollout will focus exclusively on BTC and ETH – categorized by Schwab as established crypto and valuable altcoins – while explicitly excluding meme coins. Stablecoin support is expected to follow later.
This decision builds upon Wurster's 2024 announcement to expand crypto services, acknowledging that existing Schwab clients already hold digital assets through specialized firms but prefer consolidated management.