April 21, 2025 — Financial giant Charles Schwab is preparing to launch direct spot cryptocurrency trading within the next year, a move that would significantly deepen its presence in the fast-evolving digital asset space. The plan, unveiled by CEO Rick Wurster during the company’s first-quarter earnings call, marks a strategic pivot aimed at capturing growing investor interest in crypto.
“We’re on a great path to roll out direct crypto trading by April 2026,” Wurster said, adding that the timeline remains contingent on regulatory approval. Schwab currently offers access to crypto through exchange-traded funds (ETFs), closed-end funds, and bitcoin futures, but has yet to provide direct trading services for digital assets.
The announcement comes as Schwab reports a dramatic uptick in client engagement with its crypto-related content. “Traffic to our crypto information pages is up 400%, with 70% of that coming from prospective clients,” Wurster noted. “That level of interest signals a clear appetite for more comprehensive crypto solutions.”
April’s heightened market activity has also played a role in accelerating Schwab’s strategic considerations. The firm logged two of its busiest trading days on record this month, including a single-day volume of 14 million trades following former President Donald Trump’s announcement of a pause on tariffs. In the wake of market volatility, Schwab has seen retail account openings double and client cash balances increase—even during the typically lean tax season.
Chief Financial Officer Mike Verdeschi acknowledged the potential headwinds posed by macroeconomic shifts, including the likelihood of up to four interest rate cuts from the Federal Reserve this year. Such moves could pressure net interest margins, though Schwab’s underlying performance remains robust. First-quarter revenue surged 18% year-over-year to $5.6 billion, while net new assets jumped 44% to $138 billion—fueled in part by the successful integration of TD Ameritrade clients.
Customer satisfaction among former Ameritrade users continues to climb, Wurster said, as more investors transition to Schwab’s platforms. Looking ahead, the company plans to open 16 new branches and increase its investment in artificial intelligence tools, all while maintaining a sharp focus on operational efficiency.
Despite regulatory uncertainty around digital assets, Schwab sees a clear opportunity. “We are hopeful—and likely—to launch direct spot crypto trading in the next 12 months,” Wurster said. “The regulatory environment is evolving, and we’re positioning ourselves to act when the moment is right.”
If successful, Schwab’s foray into spot crypto trading could place it at the forefront of Wall Street’s next big leap into digital finance.
