Charles Schwab plans to launch cryptocurrency spot trading services for financial advisors in 2027

On June 2nd, according to Citywire, Jalina Kerr, Head of Advisor Experience at Charles Schwab, stated that the company plans to launch cryptocurrency spot trading features on its custodial platform for advisors in 2027. The progress is going smoothly, and the launch date might be closer to mid-year, with the specific date yet to be determined. Charles Schwab has already launched spot trading for Bitcoin and Ethereum to retail clients this year. Kerr pointed out that digital assets are not uniformly regulated like other brokerage and securities products, requiring careful consideration from fund deposit to withdrawal. She mentioned that advisors currently prefer allocating crypto assets to clients through Charles Schwab's exchange-traded products, but interest in spot trading has recently increased. Charles Schwab's competitor, Fidelity, already offers crypto custody and trading solutions for wealth management managers.