Charles Schwab To Launch Bitcoin, Ethereum Trading Services (CORRECTED)

Editor's note: This article has been updated to correct the name of Schwab's CEO.

Charles Schwab SCHW, one of the largest brokerage firms in the United States, has confirmed plans to launch Bitcoin BTC/USD and Ethereum ETH/USD trading services for its retail clients.

What Happened: The announcement was made by Schwab CEO Rick Wurster during a conversation with CNBC on Friday, where he said, “We also anticipate launching Bitcoin and Ether sometime soon so that our clients have access to that… They really want to bring it back to Schwab because they trust us. They want it to sit alongside their other assets."

Wurster noted that a significant number of Schwab clients currently hold a small portion of their crypto, typically 1–2%, at "digital native firms" but prefer consolidating those assets within Schwab's existing wealth management infrastructure.

The firm expects this product rollout to be a growth driver.

Also Read: First Strategy, Now MEI Pharma: Litecoin Joins Bitcoin As Treasury Asset

Why It Matters: With this move, Charles Schwab joins a growing list of major brokerages offering direct crypto access:

• Fidelity Investments launched Bitcoin and Ethereum trading for retail investors through its Fidelity Crypto platform in 2023.
• Robinhood HOOD supports trading for several cryptocurrencies, including BTC, ETH, Dogecoin DOGE/USD, and Solana SOL/USD, and has been active in crypto custody and wallet products.
• Interactive Brokers introduced crypto trading in partnership with Paxos, allowing clients to trade BTC, ETH, Litecoin LTC/USD, and BCH directly through its platform since 2021.
• E*TRADE, owned by Morgan Stanley MS, began offering Bitcoin and Ethereum trading to select clients via third-party partnerships in 2024.

Schwab already has indirect crypto exposure through its participation in EDX Markets, a crypto exchange backed by Fidelity, Citadel Securities, and Virtu Financial. However, the forthcoming launch marks Schwab's first direct retail crypto offering.

The development comes as the U.S. Congress advances the CLARITY Act, landmark legislation passed by the House of Representatives in June.

The Act establishes clearer regulatory boundaries between the SEC and CFTC, creates tailored rules for decentralized networks, and provides a structured framework for token classification.

The CLARITY Act aims to replace the current patchwork of enforcement with defined compliance pathways, giving traditional financial institutions the confidence to enter the digital asset space with fewer legal uncertainties.

Read Next:

• $67M For More ETH: Bit Digital Expands Its Ethereum Treasury Beyond 120,000 Coins

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