Schwab Enters Crypto Market with Direct Bitcoin and Ethereum Trades

Charles Schwab is set to enter the cryptocurrency market with the launch of direct spot trading for Bitcoin and Ethereum on its brokerage platform. The move marks a significant expansion into the crypto market for the firm, which manages over $12 trillion in client assets.

The service will allow clients to trade Bitcoin and Ethereum directly within their existing brokerage accounts without the need for a separate crypto wallet or exchange account. This will provide easier access to spot trading for Schwab's clients, who can execute trades within their standard brokerage accounts.

Schwab has been preparing for this move as regulatory conditions evolved, with CEO Rick Wurster confirming the timeline during a prior earnings call. The firm plans to roll out the service in phases, starting with employee access and followed by invited clients before a full public release.