Charles Schwab is experiencing a notable surge in engagement from retail investors regarding its cryptocurrency offerings, with a striking 90% year-over-year increase in visits to its crypto platform. This trend was highlighted in an interview with CEO Rick Wurster, who indicated that the interest in Bitcoin exchange-traded funds (ETFs), Bitcoin futures, and other crypto exchange-traded products is stronger than ever. Currently, Schwab clients account for approximately 20% of all crypto exchange-traded products in the United States.
In response to growing demand, Schwab is expanding its range of crypto investment options and educational resources. The firm is committed to blending digital access with traditional client support, which includes resources available via phone and at branch offices. Notably, the company plans to introduce spot Bitcoin trading by the first half of 2026.
Wurster made these announcements during Schwab’s third-quarter earnings call, where the company reported significant growth, including $134.4 billion in net new assets, representing a 48% increase compared to the previous year. Total client assets reached an impressive $11.59 trillion, marking a 17% rise year-over-year, while daily average trades rose by 30%. This record-breaking performance is indicative of Schwab’s strategic focus, which aims to cater to both seasoned traders and newer entrants looking to explore the crypto market.
In the broader financial landscape, other institutions are also making moves towards crypto. Earlier this month, Morgan Stanley encouraged its clients to allocate between 2% and 4% of their portfolios to cryptocurrency, especially Bitcoin. The firm’s report characterized Bitcoin as a scarce asset akin to “digital gold,” suggesting it could play a vital role in diversified investment strategies. Morgan Stanley also recommended regular portfolio rebalancing and advised exposure through exchange-traded products to mitigate volatility—a strategy coinciding with Bitcoin hitting an all-time high of around $126,200.
Furthermore, U.S. Bank recently announced the establishment of its new Digital Assets and Money Movement organization, with the goal of accelerating the development of and generating revenue from emerging digital products and services, such as stablecoin issuance, cryptocurrency custody, and asset tokenization. Institutional investment in Bitcoin ETFs has also gained traction, with holdings rising to $870.7 million in the third quarter, reflecting an increase of $117.3 million from the previous quarter.
As Schwab and other financial institutions expand their crypto offerings and adapt to evolving investor interests, the landscape for digital assets continues to evolve rapidly, indicating a growing acceptance of cryptocurrency within traditional finance.
