• Charles Schwab CEO Rick Wurster confirms plans to launch direct Bitcoin and Ethereum trading in the first half of 2026.
  • The move, part of a broader institutional shift, will integrate crypto trading into Schwab's Thinkorswim platform and main brokerage ecosystem.
  • The firm is also developing a proprietary spot Bitcoin ETF to compete with products like BlackRock's iShares Bitcoin Trust (IBIT).

During the company's third-quarter earnings call, CEO Rick Wurster expressed confidence that Bitcoin and Ethereum would be the first two cryptocurrencies offered directly to Schwab's massive client base. The launch, slated for the first half of 2026, marks a pivotal moment for mainstream crypto adoption, bringing spot trading into the fold of a firm that oversees more than $7 trillion in client assets.

"We feel confident Bitcoin and Ethereum will be the two cryptocurrencies we can offer to the market," Wurster said, according to people familiar with the call's details. The trading functionality will initially debut on the Thinkorswim platform before expanding to Schwab.com and its mobile applications, allowing clients to manage digital assets alongside traditional investments without the need for separate exchange accounts.

Behind the scenes, Schwab is building its own proprietary systems to manage records and transactions rather than relying fully on outside providers. A dedicated technology group is developing the framework, with pilot testing set to begin with small groups of clients before a full-scale rollout. This in-house approach underscores the strategic importance of the initiative and Schwab's desire to maintain control over the client experience and compliance infrastructure.

The announcement comes amid a period of exceptional financial performance for the brokerage. In the third quarter of 2025, Schwab reported total client assets of $11.59 trillion, a 17% year-over-year increase, with net new assets surging 48% to $134.4 billion. Activity in the crypto sector on its platform has been particularly robust, with visits to its crypto-related content jumping 90% year-over-year. Schwab clients now hold roughly 20% of all crypto exchange-traded products (ETPs) in the U.S., a significant footprint that the new direct trading offering aims to expand.

This strategic expansion is enabled by a shifting regulatory landscape. Federal agencies have recently clarified that banks may provide custody, trading, and stablecoin services with appropriate risk management. The introduction of the first federal stablecoin framework, the GENIUS Act, has added further momentum. This clarity has given traditional financial institutions the green light to move more aggressively into digital assets, following the SEC's earlier approvals of spot Bitcoin and Ethereum ETFs.

Schwab's move is part of a clear institutional pivot. The firm is not only launching a trading desk but also developing its own spot Bitcoin ETF to compete directly with giants like BlackRock. This positions Schwab to capture demand across multiple client segments, from self-directed traders to those preferring packaged products. The competitive implications are significant for specialized crypto exchanges and brokerages, as Schwab's scale and trusted reputation could appeal to more cautious investors who have been hesitant to venture onto crypto-native platforms.

Other major institutions are making similar plays. U.S. Bank recently announced a new Digital Assets and Money Movement organization, while Morgan Stanley has recommended clients allocate 2-4% of their portfolios to cryptocurrency, primarily Bitcoin. Institutional holdings in Bitcoin ETFs rose to $870.7 million in Q3 2025, up $117.3 million from the previous quarter, signaling a steady drumbeat of professional money entering the space.

For Schwab's vast clientele, the 2026 launch promises to simplify access dramatically. The integration aims to demystify crypto investing by placing it within a familiar, regulated environment complete with educational resources and client support—a strategy likely designed to attract the more risk-averse segments of its investor base. If successful, Schwab's foray could serve as a blueprint for other major brokerages and accelerate the full normalization of digital assets within traditional wealth management.