Charles Schwab Sets Up Crypto Spot Trading, Future CEO Admits ‘Not Investing Yet Was a Mistake’

Charles Schwab is planning to enter crypto spot trading as soon as US regulations become clearer. Rick Wurster, Schwab’s incoming CEO, said the company is ready to expand its services to meet investor demand, especially given the positive regulatory changes under the Trump administration.

Schwab has already entered the crypto market through its #ETF fund and futures, but offering direct crypto trading could help it compete with platforms like Robinhood Markets, which have attracted a large number of retail investors. According to a Schwab survey, nearly 50% of investors plan to buy crypto through ETFs in the next year.

Trump pledged to support the crypto industry, including creating a $BTC reserve and changing the SEC leadership. Meanwhile, SEC Chairman Gary Gensler, who has been criticized for his tough stance on crypto, announced his resignation on January 20.

Although he has not invested in crypto, Wurster acknowledged the appeal of this market and expressed regret:

“Crypto has attracted a lot of attention, and a lot of people have made a lot of money. I didn’t buy crypto, and now I feel stupid.”

Schwab’s entry into the crypto spot market marks a major step forward, reflecting the transformation of financial institutions in response to strong demand from investors.