Charles Schwab, 2026 Cryptocurrency spot trading introduction announcement

Charles Schwab Entering Cryptocurrency Market (Source: Reuters)

American major securities firm Charles Schwab announced plans to introduce cryptocurrency spot trading services within the next 12 months. Unlike existing ETF or futures products, this will support customers in directly holding major cryptocurrencies like Bitcoin and Ethereum, a decision considered exceptional even among traditional financial firms.

On the 20th (local time), Charles Schwab CEO Rick Wurster recently announced at a business update meeting, "As the regulatory environment becomes progressively clearer, we are preparing to launch a spot-based cryptocurrency trading service." He emphasized, “The goal is to realize the plan within the next 12 months and preparations are proceeding smoothly.”

Charles Schwab is currently one of the largest financial service companies in the U.S., managing over 7 trillion dollars in assets, with cryptocurrency-related ETFs already in operation. However, the direct trading form of services had been on hold due to regulatory uncertainties and other reasons. This announcement reflects the establishment of the legal foundation for digital assets in the U.S., showing that the entry of traditional financial institutions into the cryptocurrency market is becoming full-fledged.

Indeed, according to Charles Schwab’s internal data, traffic on cryptocurrency-related pages on the company's website has surged by 400% over the past few months. Of these, 30% were existing customers, while the remaining 70% were potential customers who have not yet opened accounts. CEO Wurster analyzed, "The growing market volatility is leading more individuals to consider cryptocurrency as a new investment avenue."

Charles Schwab currently provides cryptocurrency investment services via ETFs, CEFs, and futures products, and expansion to spot trading is expected to intensify competition with major rivals such as Fidelity, Robinhood, and eToro. Notably, Nate Geraci, President of ETF Store, praised Schwab’s decision stating, “Spot cryptocurrency trading will now become the basic service of all major brokers.”

Earlier this year, Charles Schwab partnered with Trump Media & Technology Group (TMTG) to launch a new brand called Truth.fi. This is interpreted as a platform for offering ETF and cryptocurrency-related investment products, aimed at encompassing investor layers reflecting political inclinations.

This announcement may serve as a signal not just for a single securities firm entering the cryptocurrency market but also for the entire U.S. financial system accepting digital assets into the regulatory framework. Previously, CEO Wurster remarked, “It was foolish not to participate in early cryptocurrency investments,” and this decision is seen as a result of that reflection and strategic shift.