Charles Schwab Enters Crypto Market with Spot Trading
- Charles Schwab has launched phased spot Bitcoin and Ethereum trading via “Schwab Crypto” at a fee of 75 basis points per trade.
- The company manages $11.8 trillion in client assets and employs 16,000 financial advisors.
- Schwab’s entry into crypto follows similar moves by Goldman Sachs and Morgan Stanley, who have also increased their exposure to Bitcoin ETFs.
Charles Schwab has entered the cryptocurrency market with a phased rollout of spot Bitcoin and Ethereum trading, setting itself as a direct competitor to platforms like Coinbase and Robinhood. With significant client assets under management, Schwab’s move marks a major step for institutional finance in the crypto space.
This development highlights the growing interest from traditional financial institutions in cryptocurrencies, as evidenced by recent actions from Goldman Sachs and Morgan Stanley. (Source)
