$10 trillion asset management company Charles Schwab will launch Bitcoin and Ethereum trading services, CEO Rick Wurster told CNBC on Friday. The CEO says that the company anticipates launching the crypto services “sometime soon,” saying that their clients want to bring their crypto asset holdings to Schwab.

“We think that will be an acceleration of our growth,” the CEO said in an interview. “[Our Clients] really want to bring [crypto holdings] back to Schwab because they trust us, and they want it to sit alongside their other assets. We think we’ll see some real growth when we bring those to market.” This isn’t Wurster’s first time discussing crypto on a major scale for the firm either. Earlier this year, during its last earnings call, the CEO mentioned wanting to launch crypto trading services and specifically spot trading.

“Our expectation is that with the regularly changing environment, we are hopeful and likely to be able to launch direct spot crypto [trading], and our goal is to do that in the next 12 months,” Wurster said. The executive took over the position in January and saw them through a 40% quarterly profits surge. Amid a volatile market, Wurster noted that investors are looking to rebalance and diversify their portfolios. Moreover, crypto is set to play a big part in that, with many interested in redirecting to the asset class. Now that crypto is in a brighter spotlight thanks to recently revised legislation, big banks and asset managers are looking to bring crypto services directly to their customers.

Also Read: Global Cryptocurrency Market Cap Hits Record $4 Trillion

The news is extremely bullish for crypto as a whole, creating a wider path for investors, big and small, to jump into the industry. At press time, the overall crypto market’s 24-hour trading volume is up 24.43%. Bitcoin is currently trading north of $117,000, while Ethereum is up over 4% to $3,580. Charles Schwab doesn’t have an exact timetable for launching Bitcoin and Ethereum trading services, but many forecast the launch to come before the end of 2025.

$10 trillion asset management company Charles Schwab will launch Bitcoin and Ethereum trading services, CEO Rick Wurster told CNBC on Friday. The CEO says that the company anticipates launching the crypto services “sometime soon,” saying that their clients want to bring their crypto asset holdings to Schwab.

“We think that will be an acceleration of our growth,” the CEO said in an interview. “[Our Clients] really want to bring [crypto holdings] back to Schwab because they trust us, and they want it to sit alongside their other assets. We think we’ll see some real growth when we bring those to market.” This isn’t Wurster’s first time discussing crypto on a major scale for the firm either. Earlier this year, during its last earnings call, the CEO mentioned wanting to launch crypto trading services and specifically spot trading.

“Our expectation is that with the regularly changing environment, we are hopeful and likely to be able to launch direct spot crypto [trading], and our goal is to do that in the next 12 months,” Wurster said. The executive took over the position in January and saw them through a 40% quarterly profits surge. Amid a volatile market, Wurster noted that investors are looking to rebalance and diversify their portfolios. Moreover, crypto is set to play a big part in that, with many interested in redirecting to the asset class. Now that crypto is in a brighter spotlight thanks to recently revised legislation, big banks and asset managers are looking to bring crypto services directly to their customers.

Also Read: Global Cryptocurrency Market Cap Hits Record $4 Trillion

The news is extremely bullish for crypto as a whole, creating a wider path for investors, big and small, to jump into the industry. At press time, the overall crypto market’s 24-hour trading volume is up 24.43%. Bitcoin is currently trading north of $117,000, while Ethereum is up over 4% to $3,580. Charles Schwab doesn’t have an exact timetable for launching Bitcoin and Ethereum trading services, but many forecast the launch to come before the end of 2025.