Schwab Confirms Spot Crypto Plans as Retail Demand Surges

• Schwab plans spot crypto trading within a year, adding to its role as the largest custodian of crypto ETF assets globally.

• Retail demand surged in late 2025, with crypto page traffic up 400% and 70% of visitors coming from new clients.

• Regulatory changes to SAB 121 removed capital hurdles, making direct crypto trading viable for bank holding companies.

Charles Schwab confirmed plans to launch spot crypto trading within the next 12 months, according to company executives. The disclosure came following a sharp rise in retail crypto interest late last year. The move indicates regulatory changes, rising client demand and Schwab’s existing role as the largest custodian of crypto ETF assets.

Schwab Details Growing Crypto Exposure

Charles Schwab, which oversees roughly $11 trillion in assets, said it already custodies more crypto ETF assets than any other firm. Notably, executives described the company as a primary destination for investors seeking regulated crypto exposure. Clients currently access crypto through ETFs, Bitcoin futures, and closed-end funds.

However, Schwab emphasized that spot crypto remains the missing piece. Executives said internal planning for direct crypto trading is underway. The firm aims to launch within 12 months, with an earlier rollout possible if conditions allow.

Retail Demand Drives Platform Expansion

Demand data played a central role in Schwab’s announcement. During the last crypto market upswing in the fourth quarter, traffic to Schwab’s crypto education pages rose 400%. According to the firm, 70% of those visitors were new prospects.

Notably, executives said retail investors dominate current crypto activity on the platform. Much of that trading occurs during extended 24-by-5 market hours. In addition, Schwab reported a strong presence of non-U.S. clients during those sessions.

Executives explained that investors tend to seek crypto exposure through familiar institutions. Rather than switching platforms, clients reportedly turn to firms they already trust for custody and guidance.

Regulatory Shift Clears Path for Spot Crypto

Schwab linked its timing to recent regulatory adjustments. Executives pointed to the revision of SAB 121, previously referred to as SAB 131 in public remarks. The rule required banks to hold capital against client crypto assets.

That requirement did not apply to equities or fixed income holdings. As a result, Schwab said the rule made spot crypto unworkable for bank holding companies. However, regulators later changed the guidance.

According to Schwab, multiple regulatory bodies followed that update. Executives said discussions with regulators continue, and they now see a clear path to offering spot crypto trading.