Charles Schwab plans to launch Bitcoin, Ether spot trading, CEO says
2025-07-19 10:05:09
Main Idea
Charles Schwab plans to launch Bitcoin and Ethereum spot trading, aiming to compete with crypto exchanges like Coinbase and expand its crypto-related services.
Key Points
1. Charles Schwab CEO Rick Wurster announced plans to offer spot trading for Bitcoin and Ethereum, targeting an April 2026 launch.
2. Schwab currently holds over 20% of the crypto ETP market, with clients keeping 1-2% of their crypto assets with digital-native firms.
3. The company aims to compete with crypto exchanges like Coinbase by integrating crypto trading alongside traditional assets.
4. Schwab has seen a 400% increase in traffic to its crypto website, reflecting growing client interest.
5. A survey by Coinbase and EY-Parthenon found 83% of institutions are investing in altcoins, with XRP and Solana being favored assets.
Description
Charles Schwab plans to offer spot trading for Bitcoin and Ethereum, aiming to attract clients who want to consolidate crypto holdings with their traditional assets.
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