Charles Schwab CEO touts 400% surge in crypto interest, teases direct spot trading

Charles Schwab Corp. is making serious waves in the crypto world—and it’s just getting warmed up, according to its new CEO, Rick Wurster.

Based in Westlake, Texas, the financial giant is already seeing strong traction in the digital asset space and is preparing to broaden its offerings, Wurster said during a recent conference call.

In a transcript shared on Seeking Alpha, Wurster highlighted Schwab’s growing portfolio of crypto-related products—ranging from ETFs to Bitcoin futures—and emphasized the rising interest from both current clients and new audiences. He noted:

“We recently saw a 400% increase in traffic to our crypto site—and 70% of that traffic came from people who aren’t even Schwab clients.”

That surge, Wurster believes, reflects the strength of Schwab’s brand as a trusted name in finance—a key factor for many crypto-curious individuals still cautious about entering the space.

“When people think about getting into crypto, they want to work with a brand they trust… and that’s who we are.”

At the moment, Schwab offers crypto exposure through ETFs, closed-end funds, and futures. But Wurster revealed that the firm is actively working on a much-anticipated next step: direct access to spot crypto trading.

It’s a major move the company is aiming to roll out by 2026:

“Our goal is to [launch spot crypto] within the next 12 months, and we’re well on our way to making that happen.”

Introducing spot crypto trading would be a significant shift for Schwab, especially as the regulatory environment becomes clearer. Wurster framed the push as a natural response to growing client demand—and a strategic effort to remain a top choice for both retail and institutional crypto investors.

As digital assets continue transitioning from niche trend to mainstream financial instrument, Schwab may soon feel more like a Web3 pioneer than a Wall Street institution.

So who’s already in the game? Plenty of players already offer direct spot crypto trading, allowing users to buy and sell digital currencies. Crypto-first platforms like Coinbase, Binance, Kraken, and Gemini lead the charge, with feature-rich tools, wide asset selections, and strong liquidity. These exchanges remain go-to destinations for both casual and professional traders alike.

Meanwhile, traditional financial firms are getting in on the action too. Fidelity’s platform, Fidelity Crypto, supports spot trading of Bitcoin and Ethereum. Robinhood and eToro also offer commission-free crypto alongside their stock and ETF services, blending old-school investing with new-school assets.