One of Wall Street’s most influential banks may be preparing to move further into digital assets.
JPMorgan Chase is reportedly exploring the possibility of offering cryptocurrency trading services to its institutional clients — a step that would signal a meaningful shift for a firm historically known for its guarded, and often critical, stance toward the crypto sector.
Key takeaways
- JPMorgan is evaluating crypto trading services for institutional clients, including potential spot and derivatives products.
- The discussions are still preliminary and driven largely by rising client interest.
- A more favorable U.S. regulatory environment is encouraging traditional banks to reassess digital assets.
The move would mark a notable evolution in CEO Jamie Dimon’s long-standing skepticism toward cryptocurrencies.
According to reporting by Reuters, the bank is reviewing possible crypto-related offerings within its markets division. The plans were not public at the time of reporting and remain in the exploratory phase, but they could eventually cover both direct trading and derivative exposure to digital assets. No official launch timeline has been disclosed, and any rollout would depend on regulatory clarity and internal approvals.
The initiative reflects growing demand from institutional clients who are increasingly interested in regulated access to crypto markets. This shift is unfolding alongside a changing policy backdrop in the United States. Since returning to office, President Donald Trump has overseen several policy developments viewed as supportive of the digital asset industry, including the passage of the GENIUS Act, which introduced clearer rules around stablecoin payments and reserve requirements.
From Open Skepticism to Strategic Reassessment
If JPMorgan proceeds, the move would highlight a clear evolution in the thinking of its chief executive, Jamie Dimon. Dimon has long been one of crypto’s most vocal critics, famously stating during a 2023 hearing that cryptocurrencies such as Bitcoin were primarily associated with criminal activity. In more recent interviews, however, his position has become more nuanced. While still cautious on certain crypto assets, Dimon has acknowledged the usefulness of blockchain technology and expressed support for stablecoins as a financial innovation.
JPMorgan’s evolving approach has not been without friction. In late 2024, Jack Mallers, the chief executive of Strike, publicly criticized the bank for allegedly closing his accounts without explanation. Dimon later addressed broader concerns by stating that JPMorgan does not sever banking relationships based on political or religious views.
The bank’s reassessment of crypto comes amid a wider shift across the global banking sector. In Europe, French lender BPCE is preparing to introduce crypto trading services for retail customers, a relatively uncommon move among major European Union banks. At the same time, BNY Mellon has expanded its digital asset footprint by launching a money market fund designed to hold reserves for U.S. stablecoin issuers, aligning with requirements set out in the GENIUS Act.
Collectively, these developments point to a broader recalibration within traditional finance. As regulation becomes clearer and institutional demand continues to build, major banks are increasingly treating digital assets as a strategic consideration rather than a peripheral experiment. For JPMorgan, entering institutional crypto trading would not only add a new line of business, but also underscore how far the industry — and its most prominent skeptics — have come in reassessing the role of digital assets.
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Source: https://coindoo.com/jpmorgan-explores-crypto-trading-for-institutional-clients/