Charles Schwab to Launch Direct Crypto Trading, Targeting Coinbase’s Retail Market
Charles Schwab is gearing up to offer direct bitcoin (BTC) and ether (ETH) trading to retail clients, CEO Rick Wurster revealed in a CNBC interview Friday — a move that positions the brokerage giant to challenge Coinbase’s dominance in U.S. crypto retail.
“Our clients want simplicity — they want to view and manage their crypto alongside their stocks and ETFs,” Wurster said. The planned integration will enable users to buy and hold crypto directly through Schwab’s primary platform, eliminating the need for third-party apps.
Until now, Schwab has only offered crypto exposure via ETFs and crypto-linked securities. But with a 20% share of crypto ETF flows and growing client interest, the brokerage is making a decisive leap into spot trading.
Wurster confirmed the firm will “absolutely” compete with Coinbase, signaling confidence that Schwab can leverage its scale, compliance track record, and established client base to win retail crypto market share.
The move coincides with renewed regulatory clarity: the GENIUS Act — a landmark federal crypto law — is expected to be signed into law by President Trump soon, creating a more secure regulatory foundation for firms like Schwab to enter the space.
While a launch timeline hasn’t been announced, analysts expect Schwab to target wealthier, compliance-conscious retail clients who have hesitated to use crypto-native exchanges.
Shares of Schwab (SCHW) gained 2.9% Friday to close at $95.80, nearing a 52-week high of $97.50. The firm currently holds a market cap of $174.07 billion and trades at a P/E ratio of 28.47 with a dividend yield of 1.13%.
