CryptoNewsNetwork

07/20 11:02

Charles Schwab plans to launch Bitcoin, Ether spot

Charles Schwab plans to launch Bitcoin, Ether spot trading, CEO says

Charles Schwab plans to offer spot trading for Bitcoin and Ethereum, aiming to attract clients who want to consolidate crypto holdings with their traditional assets.

Charles Schwab is preparing to expand its crypto offerings by launching spot trading for Bitcoin and Ethereum, according to CEO Rick Wurster.

In an interview with CNBC on Friday, Wurster said Schwab clients already hold significant exposure to crypto via exchange-traded products (ETPs), owning more than 20% of the industry’s crypto ETP market. However, he noted that crypto still represents a relatively small portion of clients’ total wealth, around $25 billion out of $10.8 trillion.

“We anticipate launching Bitcoin BTC $118,432 and Ether ETH $3,565

 sometime soon so that our clients have access to that,” he said. “We think that will be an acceleration of our growth.”

The CEO claimed that many clients currently keep 98% of their wealth with Schwab but hold just 1% to 2% of their crypto assets with digital-native firms. “They really want to bring it back to Schwab because they trust us. They want us to sit alongside their other assets,” he added. 

#Claim1,200 USDT in the Monthly Creation Challenge#Do you think MemeCore is promising?

3Share