US $12 trillion financial giant Charles Schwab announced plans to launch spot trading for Bitcoin and Ethereum in the first half of 2026.
CEO Rick Wurster said the company will focus solely on these two assets in its first foray into the crypto space and is “extremely confident” about the necessary integration work.
Wurster stated that the crypto trading process will proceed gradually, first testing it with company employees, then opening it to a limited group of customers, and finally offering it to all investors.
Potential Impact on Crypto Exchanges
Bloomberg ETF analyst Eric Balchunas said that Schwab's move could pose a serious threat to crypto exchanges.
Balchunas stated the following in his assessment:
We knew this was coming. The big question: What will the fees be? Schwab offers free trading on ETFs and stocks. If they offer free crypto as well, Coinbase should be wary. Even a fee below 50 basis points is a major threat to crypto exchanges, in my opinion.
Balchunas also noted that spot Bitcoin and Ethereum ETFs are already free to trade, with tight spreads of 1-2 basis points, and that it would be difficult for Schwab to exceed this. However, he also noted that ETFs have expense ratios, while owning the assets directly eliminates this cost.
Acquisition Strategy
Wurster said acquisitions are a key part of Schwab's growth strategy. “If the right opportunity comes along at the right price, we would certainly consider buying a crypto company,” he said.