Charles Schwab Set to Offer Bitcoin and Ether Trading, Taking Aim at Coinbase’s Retail Base

Charles Schwab is preparing to roll out direct bitcoin (BTC) and ether (ETH) trading, marking a significant expansion into the digital asset space. CEO Rick Wurster confirmed the plans in a Friday interview on CNBC’s Money Movers, highlighting Schwab’s intention to rival crypto-native platforms like Coinbase for mainstream retail users.

“Our clients want to manage crypto within the same platform as their stocks and bonds,” Wurster said. While Schwab currently manages around $25 billion in digital asset exposure — a small slice of its $10.8 trillion in total client assets — the demand for integrated crypto solutions is accelerating, he added.

To date, Schwab clients have accessed crypto primarily through ETFs and related products. The brokerage now holds more than 20% of all assets in crypto-linked exchange-traded products. But this upcoming move into native BTC and ETH trading represents a major shift — and a potential challenge to incumbent players like Coinbase.

When asked if Schwab’s crypto expansion directly targets Coinbase, Wurster was clear: “Absolutely.” He emphasized that Schwab aims to serve clients looking for simplicity, security, and trusted custody — all within a single financial ecosystem.

The announcement comes just as Washington prepares to finalize sweeping crypto legislation. President Trump is expected to sign the GENIUS Act into law, ushering in a regulatory framework designed to support digital innovation and asset integration. That backdrop could give traditional brokerages like Schwab a clearer path to offering full-fledged crypto services.

Although Schwab hasn’t specified a timeline for launch, the company’s entry into crypto trading is poised to reshape access for millions of retail investors — especially those seeking to consolidate their portfolios under one roof.

Meanwhile, Schwab stock ended the week on a high note, closing at $95.80, up 2.9% for the day. Shares briefly hit a 52-week high of $97.50 before pulling back. The brokerage now boasts a $174.07 billion market cap, a P/E ratio of 28.47, and a dividend yield of 1.13%, according to Google Finance.