JPMorgan Eyes Crypto Trading for Institutional Clients

Key Highlights

JPMorgan may offer crypto trading for institutional clients, including spot and derivatives in early-stage plans.
Any move depends on demand from hedge funds, asset managers, and other large institutional investors.
The GENIUS Act provides regulatory clarity for banks offering stablecoin and crypto services.

JPMorgan Chase, one of the world’s largest financial institutions, is reportedly exploring the option of providing their institutional customers with the ability to trade in cryptocurrency.

According to a Bloomberg report, the bank is believed to be exploring what its market division could provide in the digital assets market. This could involve trading and derivatives for cryptocurrencies. These talks are in the early stages at present, and the bank’s decisions will depend on institutional demand.

JPMorgan is the biggest U.S. bank in terms of assets and provides its services to nation-states and institutional investors around the world. The potential move highlights how Wall Street banks are becoming more involved in cryptocurrencies as client interest grows and regulation becomes clearer.

With the U.S. President Donald Trump at the helm, the government has adopted an encouraging approach towards the cryptocurrency sector, including the enactment of the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act in July this year.

The GENIUS act regulates stablecoin payments as they have to be fully reserved, and banks gain clarity as far as offering crypto services is concerned.

JPMorgan has already been engaged with blockchain technology, even though it has been rather reserved regarding cryptocurrencies. At the beginning of this month, it facilitated the issuance of a short-term bond on the Galaxy Digital platform using the Solana blockchain.

Criticism and CEO perspective

Despite the reported move deepening its involvement in digital assets, JPMorgan has faced criticism from parts of the crypto industry. In November, Strike CEO Jack Mallers said the bank had closed his accounts without explanation. Responding to broader concerns, JPMorgan CEO Jamie Dimon said in a December interview that the bank does not debank customers based on their religious, personal, or political beliefs.

If JPMorgan proceeds, it would mark a shift from Dimon’s earlier criticism of cryptocurrencies like Bitcoin, which he once associated with criminal activity.

In a July earnings call, Dimon said the bank would continue testing stablecoins and its own deposit coin to stay competitive in digital payments, even though he remains skeptical about their necessity compared with traditional systems. He acknowledged, however, that the technology is real and worth understanding.

Broader banking trends

JPMorgan’s review reflects a broader trend among global banks. Morgan Stanley plans to offer crypto trading through its E*Trade platform in 2026.

In November, BNY Mellon launched a money market fund for holding the reserve assets of stablecoins issued under the GENIUS Act. It does not invest in the stablecoins themselves but does offer a regulated option for institutional reserve management.

In Europe, French banking group BPCE began offering direct cryptocurrency trading to customers in December. Through its licensed crypto unit, Hexarq, customers can trade major digital assets such as Bitcoin and Ethereum directly within the bank’s mobile apps, showing growing acceptance of digital finance in the region.

Banks in other regions are also moving forward. In November, Discovery Bank said it would become the first bank in South Africa to allow customers to trade cryptocurrencies through its mobile app.

The service, launching in December 2025 in partnership with crypto exchange Luno, will let users buy, hold, and sell assets like Bitcoin and Ethereum.