Schwab Adds BTC & ETH Spot Trading, Plans Stablecoin
Charles Schwab reported a 14% rise in client assets to $10.76 trillion and a 23% jump in trading revenue to $952 million in Q2.
CEO Rick Wurster said Schwab will soon offer direct spot trading for Bitcoin and Ethereum on its unified platform. Clients holding $25 billion in crypto via exchange-traded products can trade Bitcoin (BTC) and Ethereum (ETH) alongside stocks, bonds and ETFs.
Schwab also plans to issue its own stablecoin, partnering with major banks on a consortium while evaluating independent launch options for its stablecoin project.
This spot trading expansion follows clearer U.S. rules on stablecoins and relaxed banking regulations, reinforcing Schwab’s challenge to existing crypto exchanges. The firm added over 1 million new retail and advisory accounts this quarter. The move aims to capture growing institutional demand—surveyed at 83% planning larger crypto allocations by 2025—and retain affluent investors who currently split crypto holdings across multiple venues.
Bullish
Schwab’s move to integrate direct Bitcoin and Ethereum spot trading is likely bullish for both assets. By lowering entry barriers and consolidating crypto trading within a trusted brokerage, Schwab can drive significant new demand. In the short term, easier access to BTC and ETH trading may boost liquidity and trading volumes, supporting upward price pressure. The planned stablecoin issuance and bank consortium further enhance market infrastructure, which can stabilize trading arrangements and reduce reliance on external exchanges. Over the long term, Schwab’s adoption signals growing institutional acceptance of digital assets, encouraging larger allocations and reducing volatility. Historical precedents—such as CME offering Bitcoin futures—show that mainstream financial product launches tend to coincide with broader market confidence and price appreciation. While increased supply from institutional trading could temper extreme rallies, the overall impact aligns with a bullish outlook for Bitcoin and Ethereum as they become core offerings at a major brokerage.