Charles Schwab is gearing up to enter the spot cryptocurrency market, a move that could significantly impact both its services and the wider digital asset ecosystem. CEO Rick Wurster announced during the company’s 2025 Spring Business Update that Schwab intends to launch spot crypto trading within the next 12 months.
Awaiting Regulatory Clarity
Wurster emphasized that Schwab’s progress toward offering spot crypto trading is closely tied to developments in U.S. regulations. “Our expectation is that with the changing regulatory environment, we are hopeful and likely to be able to launch direct spot crypto and our goal is to do that in the next 12 months and we’re on a great path to be able to do that,” he stated.
This isn’t the first time Wurster has spoken about the firm’s ambitions in the digital asset space. In a Bloomberg Radio interview last November, he signaled Schwab’s readiness to act once the regulatory climate improved — particularly under a potential second term for Donald Trump.
Schwab’s Current Crypto Offerings
While Schwab doesn’t yet support direct crypto trading, it already provides exposure through crypto-linked ETFs and Bitcoin futures. Wurster pointed out the strong engagement these products have been receiving from customers.
“We’re seeing robust engagement with the existing crypto ETFs that can be bought in the marketplace, the closed-end funds that we make available on our platform, and Bitcoin futures, which are also available on our platform,” he noted.
Growing Interest from Prospective Clients
The company has witnessed a surge in interest from individuals seeking crypto-related information. Web traffic to Schwab’s crypto content has spiked 400%, with 70% of those visits coming from new prospects rather than existing clients. Wurster believes Schwab’s reputation positions it well to serve this growing audience.
“As people in the industry are thinking about crypto, they’d love to work with a trusted brand and a firm that can bring them a lot of capabilities and we’re that firm,” he said.
Strategic Partnership with Trump Media
Earlier this year, Schwab joined forces with Trump Media and Technology Group (TMTG) to launch a new fintech brand, Truth.Fi. This initiative aims to offer a suite of financial products — including ETFs, separately managed accounts, Bitcoin, and other crypto-related investments.
Schwab will play a pivotal role in this venture, acting as the custodian of assets and helping guide investment strategy. As part of the collaboration, Schwab will oversee up to $250 million in investments, with a focus on American-centric sectors such as manufacturing, energy, and the broader “Patriot Economy.”
Truth.Fi represents a further expansion of TMTG’s business portfolio, which started with the social media platform Truth Social. The goal is to offer American investors alternative financial options outside traditional institutions — with Schwab playing a central role in facilitating that shift.