Schwab Eyes Crypto as Gensler Departs, Trump Eases Rules

"We will get into spot crypto when the regulatory environment changes, and we do anticipate that it will change, and we're getting ready for that eventuality," Wurster stated. The financial giant currently offers crypto-linked ETFs and futures, demonstrating its measured approach to digital asset adoption. Wurster acknowledges that while he hasn't personally invested in cryptocurrency, he recognizes its appeal and supports his clients' interests. He also noted that many have made huge profits via cryptocurrencies, expressing regret for not investing earlier.

Competition for retail investors has surged since the pandemic and accelerated following the US presidential election, which sparked the "Trump trade" phenomenon. Schwab faces competition from both traditional firms like Fidelity Investments and Interactive Brokers, and newcomers Robinhood and Webull.

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