Schwab Eyes Coinbase: Bitcoin, Ethereum Trading Incoming

Charles Schwab to Rival Coinbase with Crypto Trading

Top brokerage Charles Schwab is preparing to compete with Coinbase by launching spot Bitcoin and Ethereum trading. CEO Rick Wurster shared insights on CNBC’s ‘Money Movers’.

“Absolutely,” Wurster stated, confirming direct competition with Coinbase. “If they’re buying their crypto on Coinbase, we’d love to see them bring it back to Schwab.”

Charles Schwab also intends to launch a stablecoin, following the US House's passage of the GENIUS stablecoin bill.

Schwab's clients hold over 20% of crypto exchange-traded products in the industry, totaling around $25 billion of the firm's $10.8 trillion in assets.

“We anticipate launching Bitcoin and Ether sometime soon, so that our clients have access to that,” Wurster mentioned. “What we hear from many of our clients is that they have 98% of their wealth here at Schwab, and they might hold a percent or 2% at some digital native firm to hold their crypto.”

Clients seek to consolidate crypto holdings with other investments at Schwab.

“They really want to bring it back to Schwab because they trust us,” he said. “They want it to sit alongside their other assets.”

The company’s second-quarter 2025 earnings showed strong growth, with net income rising nearly 60% year-over-year to over $2 billion and revenue climbing 25% to $5.8 billion.

Charles Schwab (SCHW) shares hit a new record high during Friday’s trading session, while Coinbase (COIN) also surged to a fresh all-time high.

Key Takeaways:

• Charles Schwab plans to offer Bitcoin and Ethereum trading services.
• The firm aims to compete directly with Coinbase, enabling clients to consolidate crypto holdings at Schwab.

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