Key takeout
- Charles Schwab is expected to start direct spot crypto trading within 12 months.
- The company observes a 400% increase in traffic to crypto-centric web content.
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Charles Schwab, the top US broker company under management of over $10 trillion, said CEO Rick Wurster in this week’s Spring 2025 business update.
Wurster added that Schwab is on track to provide Spot Crypto Trading and hopes to implement it when the US regulatory environment is favorable.
“Our hope is that with the changing regulatory environment, we can launch Direct Spot Crypto, and our goal is to do it in the next 12 months and we’ll be on a great path to making it possible,” Wurster said when asked about updates on Schwab’s digital assets market plans.
Wurster reaffirmed Schwab’s plans, which he first shared in a Bloomberg radio interview last November. At the time, the newly appointed CEO also noted that the company is ready to enter the market in anticipation of Trump’s second-year regulatory changes.
Schwab currently offers crypto-related ETFs and crypto futures. Adding Spot Crypto to your product lineup will help you become more competitive with other brokers like Robinhood and Webull.
Schwab’s entry into spot trading is also expected to increase accessibility, liquidity and legitimacy of crypto investors on its platform.
Large financial services companies already see strong involvement with existing crypto investment products.
“We see robust involvement with existing crypto ETFs that can be purchased in the market, closed-end funds that can be used on the platform, and Bitcoin futures that can also be used on the platform,” Wurster said yesterday.
The company has recently observed a growing interest from potential new customers as crypto-centric web content attracts 400% more traffic. Wurster pointed out that 70% of these visitors are prospects rather than existing clients.
“Because people in the industry are thinking about Crypto, they want to work with a brand they can trust and a company that can bring a lot of capabilities to them.
Earlier this year, Charles Schwab formed a partnership with Trump Media and Technology Group (TMTG) to launch Financial Services and a fintech brand called Truth.fi.
The new division aims to provide a variety of investment products, including ETFs, individually managed accounts (SMAs), Bitcoin and other crypto or crypto-related securities. Schwab provides custody of assets and advises Truth.fi’s investments and strategies.
The partnership includes approved investments of up to $250 million managed by Schwab, focusing on investments that support America’s growth, manufacturing, energy companies, and the “patriot economy.”
The expansion into financial services is positioned as a natural extension of the Trump Media ecosystem, which starts with a true social platform and aims to provide American patriots with investment options outside of mainstream financial institutions.
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