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Charles Schwab (SCHW) wants its piece of the crypto trading pie.
“There’s lots of ways for clients to get invested in crypto at Schwab. And we provide lots of insights and education around crypto,” Charles Schwab CEO Rick Wurster told me on Yahoo Finance’s Opening Bid podcast (video above; listen in below).
“We are going to add spot crypto trading in the next 12 months. We’re going to focus initially on bitcoin and ethereum. It’ll be on our Thinkorswim platform and then shortly after on Schwab.com and on mobile.”
Wurster said Schwab has no plans to enter the meme coin trading environment.
“Those are areas we will leave to the side and let someone else make available. We’re focused on those everyday investors that want crypto to be a part of their portfolio,” Wurster said.
Charles Schwab isn’t the only old-school investment firm eyeing a deeper role in the crypto community.
Execs at Morgan Stanley (MS) are looking to add spot cryptocurrency trading on its E*trade trading platform in 2026, Bloomberg reported on Thursday.
Listen: Why the CEO of Edward Jones doesn’t see crypto as an asset class
A Morgan Stanley spokesperson declined to comment to Yahoo Finance.
The brokerages are both attempting to cash in on a friendlier crypto backdrop under the Trump administration.
The SEC dropped lawsuits against several crypto trading companies like Coinbase (COIN) and Robinhood (HOOD) after Trump took office. On April 21, pro-crypto Securities and Exchange Commission Chair Paul Atkins was sworn in — replacing the more anti-crypto Gary Gensler.
Meanwhile, the SEC also pulled accounting guidance that had restricted banks from providing custody for cryptocurrencies.
And the signature move by Trump was creating a strategic bitcoin reserve on March 6.
Despite the efforts, bitcoin slid more than 10% during Trump’s first 100 days in office as investors went risk off against the flurry of tariff-related headlines.
“Long term, we believe Bitcoin fundamentals are being driven by its own demand trajectory and its mathematically proven immutable supply of 21 million coins. Bitcoin mined today stands at 19.9 million and of the remaining 1.1 million to be mined, almost 95% will be mined over the next 10 years. Hard to be bearish, in our view, on this asset with the current demand-supply dynamics,” Bernstein analyst Gautam Chhugani said.
Three times each week, I field insight-filled conversations and chats with the biggest names in business and markets on Opening Bid. You can find more episodes on our video hub or watch on your preferred streaming service.
Brian Sozzi is Yahoo Finance’s Executive Editor. Follow Sozzi on X @BrianSozzi, Instagram, and LinkedIn. Tips on stories? Email brian.sozzi@yahoofinance.com.
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