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

Charles Schwab Corp. is signaling serious momentum in the crypto space—and it’s only getting started, according to the firm’s new CEO, Rick Wurster.

The Westlake, Texas-based firm is already capitalizing on strong engagement with digital assets and is poised to expand its offerings even further, Wurster explained on a recent conference call.

According to a transcript, available on Seeking Alpha, the newly appointed CEO pointed to a broad range of available products—from crypto ETFs to Bitcoin ( BTC ) futures—and a rapidly growing interest from both clients and potential customers, adding:

“We saw a 400% increase in traffic to our crypto site recently—70% of whom were not clients.”

That spike in traffic, Wurster noted, is a sign that Schwab’s reputation as a trusted financial brand is resonating with crypto-curious investors who may have previously been hesitant to jump in.

“As people in the industry are thinking about crypto, they’d love to work with a trusted brand… and we’re that firm.”

Spot crypto trading

While Schwab currently enables access to crypto through ETFs, closed-end funds, and futures, Wurster revealed that the firm is actively planning to offer direct access to spot crypto trading.

It’s a highly anticipated move anticipated for 2026:

“Our goal is to [launch spot crypto] in the next 12 months and we’re on a great path to be able to do that.”

Schwab’s potential entry into the spot market would mark a major shift, especially as regulatory clarity improves. Wurster framed the expansion as both a response to client demand and a strategic move to maintain the firm’s role as a top destination for retail and institutional crypto investors alike.

As digital assets evolve from fringe fascination to mainstream financial tools, Schwab’s next chapter may look more Web3 than Wall Street.

What’s the competition like?

Several firms already offer spot crypto trading, giving users direct access to buy and sell actual cryptocurrencies. Leading crypto-native exchanges like Coinbase, Binance, Kraken, and Gemini dominate the space, offering robust platforms with a wide range of trading pairs and deep liquidity. These platforms are typically favored by both retail and institutional users for their user experience and advanced trading tools.

Traditional finance players are also entering the arena. Fidelity, through its Fidelity Crypto platform, offers spot Bitcoin and Ethereum trading, while Robinhood and eToro enable commission-free crypto trades alongside stocks and ETFs.