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**Charles Schwab to Introduce Spot Crypto Trading; Here’s When**
In a significant development for the cryptocurrency market, Charles Schwab, one of the largest U.S. brokerage firms, is set to introduce spot crypto trading services for its millions of clients.
As reported by U.Today, this move comes as a major bullish catalyst for the leading cryptocurrency, Bitcoin (BTC), which has been making strides in terms of mainstream acceptance over the past year. The company’s decision to enable spot trading will allow millions of Schwab users to gain direct access to cryptocurrencies, further boosting their adoption.
Schwab initially launched a Crypto Economy exchange-traded fund (ETF) in 2022, allowing investors to gain exposure to companies that might benefit from cryptocurrency usage. However, the introduction of spot crypto trading marks a significant shift in the company’s strategy and highlights its commitment to expanding its offerings to include direct access to digital assets.
It is essential to note that regulatory clarity has been an obstacle for large financial institutions like Schwab to enter the cryptocurrency space. Walt Bettinger, the former CEO of Charles Schwab, had previously stated that a lack of regulatory clarity was hindering the company’s ability to explore crypto offerings.
The potential introduction of spot crypto trading by Schwab could have significant implications for the market. The news comes as a major boost to Bitcoin and other digital assets, which are already benefiting from increased mainstream acceptance and growing institutional involvement.
As of now, Schwab users can only access cryptocurrency exposure through ETFs, but with this new development, they will be able to directly purchase and hold cryptocurrencies, further increasing their appeal. The move is expected to have a significant impact on the market, potentially leading to an influx of institutional investors and fuelling further growth in the space.
The introduction of spot crypto trading by Charles Schwab, as well as other major financial institutions, could lead to increased adoption and mainstream recognition for digital assets.
Source: https://u.today/charles-schwab-to-introduce-spot-crypto-trading-heres-when
