Charles Schwab to Offer Clients Direct Access to Crypto Amid Regulatory Changes
Charles Schwab, a leading financial services provider, is preparing to offer direct cryptocurrency investments to its clients, according to President and incoming CEO Rick Wurster.
In a recent interview , Wurster shared that the firm’s customers have already engaged with crypto through ETFs, futures, and closed-end funds, seeing positive results.
However, Schwab plans to go beyond these offerings. Wurster expressed optimism about the evolving regulatory landscape, stating that the company is awaiting changes that would allow them to directly offer cryptocurrencies. “We’re confident that the regulatory environment will evolve soon, and we are prepared to take that next step,” he said.
Back in 2021, Schwab had signaled that its entry into the crypto space would be disruptive and highly competitive. While the company has not been aggressive in adopting cryptocurrencies, it has remained open to the sector. Unlike competitors like Vanguard, Schwab did not restrict its clients from trading spot Bitcoin ETFs when they launched earlier this year.
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Why Utility Altcoins Are Set to Outperform in the Coming Crypto Bull RunIn addition to its cautious approach, Schwab has made strategic investments in the crypto space. It was a key investor in EDX Markets, a crypto exchange founded by former Citadel Securities executives. Furthermore, Schwab introduced the Schwab Crypto Thematic Index ETF (STCE) in 2022, which tracks companies poised to benefit from the growth and use of digital assets.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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