JPMorgan Quietly Explores Crypto Trading for Institutional Clients
JPMorgan Chase is weighing the idea of offering crypto trading services to institutional clients, according to people familiar with the matter.
Bloomberg reports that the largest bank in the US is assessing potential products including spot crypto trading and derivatives, as it looks to expand its presence in digital assets. While the discussions are still in the early stages and depend on client demand, the move would mark another step forward in Wall Street’s gradual embrace of crypto.
The development is notable given CEO Jamie Dimon’s long-standing skepticism of Bitcoin, even as JPMorgan continues to build out blockchain capabilities behind the scenes.
JPMorgan’s Crypto Strategy Is Taking Shape
According to the report, JPMorgan’s markets division is evaluating which crypto services would make sense for its institutional clients. No final decisions have been made, and any launch would depend on whether there is enough demand for specific products.
The bank declined to comment, and Reuters said it could not independently verify the report.
Despite Dimon’s public criticism — he has famously compared Bitcoin to “pet rocks” and called it a “hyped-up fraud” — JPMorgan has steadily expanded its blockchain footprint.
In May, Dimon acknowledged that JPMorgan would allow clients to buy Bitcoin, though the bank would not provide custody services. Earlier this month, JPMorgan also arranged a short-term bond for Galaxy Digital on the Solana blockchain, highlighting its growing role in blockchain-based financial infrastructure.
In December, the bank launched its first tokenized money-market fund, the MONY fund, on Ethereum through its Kinexys Digital Assets platform. Seeded with $100 million, the fund is open to qualified investors with at least $5 million in investable assets and allows subscriptions in cash or USDC.
Wall Street Warms to Crypto
JPMorgan isn’t alone. Other major financial institutions are moving in the same direction.
Morgan Stanley has announced plans to roll out crypto trading on its E*Trade platform in the first half of 2026 through a partnership with Zerohash. Charles Schwab also plans to offer Bitcoin trading in early 2026, with CEO Rick Wurster noting that around 20% of Schwab clients already own crypto.
“We have lots of clients who keep asking us to launch this so they can bring their crypto assets to us,” Wurster said in a CNBC interview.
These moves come as regulatory clarity improves under President Donald Trump, who has said he wants the US to become the “crypto capital of the world.”
Veteran strategist Jordi Visser predicted last year that traditional financial institutions would increase their Bitcoin exposure before the end of 2025 — a forecast that now appears close to playing out.
Bitcoin Faces Market Headwinds
Even as institutional interest grows, Bitcoin has struggled to break higher. The asset remains range-bound below key resistance levels, trading under $93,000 while holding support near $85,000.
Ray Youssef, CEO of crypto super app NoOnes, told Cryptonews that Bitcoin hasn’t behaved like a classic hedge in 2025. Instead, its price has become more sensitive to liquidity conditions, policy clarity, and overall risk sentiment.
“Bitcoin is stuck in a compressing, range-bound phase,” Youssef said, adding that recent selling pressure has been driven largely by retail traders and short-term leverage rather than institutions.
That view is supported by ETF data. US spot Bitcoin ETFs have seen holdings fall less than 5%, even after Bitcoin dropped more than 30% from its October highs, suggesting institutional investors are largely holding steady.
Looking ahead, JPMorgan analysts recently projected that Bitcoin could reach $170,000 within six to twelve months once futures deleveraging runs its course.
For now, Bitcoin remains caught between growing institutional acceptance and near-term market uncertainty — but Wall Street’s quiet moves suggest the longer-term picture is still shifting in crypto’s favor.
