Charles Schwab's Incoming CEO Aims to Offer Spot Crypto Trading; Regrets Not Investing Earlier

Nov 21, 2024, 09:13 PM

Charles Schwab's incoming CEO, Rick Wurster, announced that the firm plans to offer spot cryptocurrency trading once US regulations make it feasible. Wurster expressed regret over not investing in crypto earlier, stating, 'I have not bought crypto, and now I feel silly.' He added, 'We will get into spot crypto. We've been waiting on a change in the regulatory environment... and we're confident that we think that will come in short order.' The asset management giant, which oversees approximately $7 trillion in assets, is preparing to enter the cryptocurrency market, anticipating changes in the regulatory environment that would allow them to offer spot Bitcoin and crypto ETF sales.