Charles Schwab Ready To Ride Crypto Wave as Trump’s Era Shifts Gears

Key Takeaways

• Charles Schwab plans to offer spot crypto trading once regulations ease.
• Schwab currently offers crypto-like spot and futures ETFs for institutional clients.
• Trump’s win and his pro-crypto stance could pave the way for a new crypto era in the US.

Charles Schwab, the $9 trillion asset management giant, is preparing to enter the retail crypto market, eyeing a launch of spot crypto trading once U.S. regulations ease.

The move signals a shift for Wall Street firms, which have largely focused on institutional crypto products, while the retail sector has remained dominated by crypto-native exchanges like Coinbase and Binance.

Charles Schwab Seeks Retail Crypto Market Share

Schwab, which currently offers crypto-linked exchange-traded funds (ETFs) for institutional clients, plans to tap into the growing retail crypto market.

According to Bloomberg , Rick Wurster, Schwab’s incoming CEO, indicated that the firm is preparing to roll out a crypto trading platform once the regulatory environment becomes more favorable.

“We will get into spot crypto when the regulatory environment changes, and we do anticipate that it will change,” Wurster said in a recent interview, signaling the company’s readiness to expand into this new territory.

While Schwab is no stranger to crypto exposure through ETFs, the company’s move into spot crypto trading would place it in direct competition with major retail exchanges.

Currently, Binance and Coinbase dominate the retail market, but Schwab’s entrance would mark another sign of traditional finance players’ growing interest in digital assets.

Despite the company’s cautious stance so far, Wurster acknowledged crypto’s increasing appeal, noting that while he hasn’t personally invested, he regrets not doing so as the market approaches another high.

“Crypto has certainly caught many’s attention, and they’ve made a lot of money doing it,” he added.

Trump’s Presidency Sparks New Crypto Era

Schwab’s interest in the crypto space comes as the U.S. prepares for a pro-crypto shift under the Trump administration.

Following his victory in the 2024 election, Trump has set his sights on turning the U.S. into a global crypto hub, a vision he promised to implement through regulatory changes.

Even before taking office, Trump has reportedly been working to nominate pro-crypto figures for key roles within his administration, signaling his commitment to fostering a crypto-friendly environment.

Additionally, sources say Trump is considering creating a new White House position, dubbed the “crypto czar,” to ensure the industry receives the support it needs as it matures.

Wall Street’s Growing Crypto Footprint

Institutional players are beginning to take note of the Trump-led crypto era.

Over the past five years, companies like Robinhood, Venmo, and PayPal have made significant inroads into the sector, helping to bridge the gap between traditional finance and digital currencies.

As retail exchanges continue to dominate the digital asset space, Schwab’s entry into the market could mark a pivotal moment for Wall Street’s relationship with crypto.

With Schwab and other financial giants ramping up their crypto offerings, the market could see greater mainstream adoption — particularly once regulations become more aligned with the industry’s growth.