Charles Schwab Expected to Provide Spot Trading Services for Crypto within the Next Year, Based on High Customer Demand and Legal Clarity.
Charles Schwab, one of the largest financial corporations in the United States, has just announced plans to directly implement cryptocurrency Spot Trading services within the next 12 months. This announcement comes against the backdrop of a positively changing legal environment and increasing customer demand, despite current macroeconomic fluctuations.
CEO Rick Wurster has confirmed this plan, emphasizing that the company is aiming to provide direct Spot Trading services for crypto, provided there is clarity on legal regulations. This is seen as a natural progression, following crypto-related products that Schwab has previously offered such as ETFs and Bitcoin Futures Contracts.
Surging Market Demand Drives New Strategy
Charles Schwab's decision reflects the growing investor interest in digital assets. According to Mr. Wurster, the company has witnessed a 400% surge in traffic to crypto resource pages, with 70% coming from non-Schwab customers. This number indicates significant potential for expanding the customer base through cryptocurrency services.
"We are seeing strong interest in existing crypto ETFs, closed-end funds we provide on our platform, as well as Bitcoin Futures Contracts," Mr. Wurster shared. "This is clearly demonstrated by the rate of new account openings and interaction levels on our crypto page."
In Q1/2025, Schwab recorded record interaction levels, including two peak trading days in April. Notably, one of those days coincided with President Trump's announcement of a temporary tax suspension, causing daily trading orders to spike to 14 million. Mr. Wurster noted that investors turned to Schwab as a "safe harbor" during market volatility.
Despite facing macroeconomic challenges, including forecasts that the Fed might cut rates up to 4 times in 2025, Charles Schwab still achieved impressive business results. Q1 revenue increased 18% year-on-year to $5.6 billion, while core net new assets surged 44% to $138 billion, primarily due to client integration from the TD Ameritrade merger.
Regarding future plans, Schwab says it will maintain a balance between growth investments – including opening 16 new branches and deploying artificial intelligence (AI) tools – and enhancing operational efficiency. For crypto Spot Trading services, Mr. Wurster revealed that the company is targeting implementation in April 2026.
"We expect that with the changing legal environment, we can – and are very hopeful – to deploy crypto Spot Trading within the next 12 months. We are on the right track to achieve that," the Charles Schwab CEO affirmed.
