Charles Schwab has reportedly created a new position in its executive team as it expands their tentacles to the cryptocurrency assets investing space.
Barron’s reports that Charles Schwab’s new head of digital asset strategy will include the overall management and development of crypto assets.
Joe Vietri will be the first head of digital assets. He was previously the head of branch networks at this financial giant.
Charles Schwab offers clients access to cryptocurrency through its regulated products, such as spot Bitcoin Exchange-Traded Funds (ETFs), which have been approved in the US since January 2024. Vietri is at the head of the Financial Services giant, which wants to increase its crypto offerings.
Charles Schwab’s CEO Rick Wurster stated in a November 2024 interview with Bloomberg Radio that the company was looking at offering cryptocurrency spot trading in the United States.
Last month, during Charles Schwab’s fourth quarter earnings call Wurster stated that Charles Schwab’s customers are showing a growing level of interest in cryptocurrency assets.
We’re really doing well in Crypto. There are many ways we can meet the needs of our clients. Our platform has seen a significant growth in ETFs and crypto ETFs. You can purchase futures and invest in closed-end fund products. Our crypto-site is where we draw clients. In fact, our site saw a 400% rise in visitors in the last quarter. 70 % of these visitors were prospects .”
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The report Charles Schwab Creates a Head of Digital Assets role as the firm positions itself to offer crypto services may be updated.
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