Wall Street Giant JPMorgan Quietly Exploring Crypto Trading for Institutional Clients: Report

JPMorgan Chase is considering offering crypto trading services to institutional clients, according to sources close to the matter.

The largest U.S. bank is assessing products including spot and derivatives trading as part of efforts to expand its crypto footprint, Bloomberg reported, citing a person familiar with the plans.

The move would represent a major evolution for JPMorgan, which has gradually increased blockchain activity despite CEO Jamie Dimon’s long-standing criticism of Bitcoin.

While the plans remain in early stages and depend on client demand, the development shows accelerating institutional adoption across traditional finance as regulatory clarity improves and market infrastructure matures.

JPMorgan Chase Building. | Source: JPMorganChase

JPMorgan’s Expanding Blockchain Strategy Takes Shape

JPMorgan’s markets division is evaluating what crypto products and services could be offered to institutional clients, according to Bloomberg’s report.

The assessment includes both spot trading and derivatives offerings, though concrete plans have not been finalized and will depend on sufficient client demand for specific products.

The bank declined to comment on the report, which even Reuters could not independently verify.

JPMorgan has been active in blockchain infrastructure despite Dimon’s public skepticism toward Bitcoin, which he has compared to “pet rocks” and called a “hyped-up fraud.”

In May, Dimon told investors JPMorgan would allow clients to buy Bitcoin while stating, “We’re not going to custody it.“

Earlier this month, JPMorgan arranged a short-term bond for Galaxy Digital on the Solana blockchain, demonstrating its expanding blockchain capabilities.

The bank also launched its first tokenized money-market fund, the MONY fund, on Ethereum in December with $100 million in initial capital through its Kinexys Digital Assets platform.

The fund is available to qualified investors with at least $5 million in investable assets and accepts subscriptions in cash or USDC stablecoin.

Wall Street’s Broader Embrace of Digital Assets

JPMorgan’s potential crypto trading launch would follow Morgan Stanley’s announcement that it will offer crypto trading on its E*Trade platform starting in the first half of 2026 through a partnership with Zerohash.

Charles Schwab CEO Rick Wurster also announced the $11.6 trillion firm will begin offering Bitcoin trading in the first half of 2026, noting that 20% of Schwab clients already own crypto.

“We have lots of clients who have the vast majority of their assets at Schwab but are holding some at digitally native firms and keep asking us to launch this so they can bring their crypto assets to us,” Wurster said in a CNBC interview.

The moves reflect growing institutional demand as regulatory frameworks clarify under President Donald Trump, who has pledged to make America the “crypto capital of the world.”

Back in September, Veteran Wall Street strategist Jordi Visser predicted that U.S. financial institutions would increase their Bitcoin exposure before the end of 2025, and that prediction is now close to becoming a reality.

“Between now and the end of the year, the allocations for Bitcoin from the traditional finance world are going to be increased,” Visser told Anthony Pompliano, adding that traditional players are preparing for 2026 with bigger Bitcoin positions.

Market Headwinds Test Bitcoin’s Institutional Appeal

Despite growing Wall Street interest, Bitcoin faces challenging market conditions as it trades range-bound below key recovery levels.

Speaking with Cryptonews, Ray Youssef, CEO of crypto super app NoOnes, noted that Bitcoin has failed to deliver on its hedge narrative in 2025, with the asset demonstrating heightened sensitivity to macroeconomic factors rather than trading like digital gold.

“BTC’s upside is now tied to liquidity expansion, sovereign policy clarity, and risk sentiment, rather than to monetary debasement alone,” Youssef said.

“From a market-structure perspective, Bitcoin remains stuck in a compressing, range-bound action bout.“

Bitcoin continues struggling to overcome resistance around $93,000 while defending support at $85,000.

Source: TradingView

U.S. spot Bitcoin ETF holdings have declined less than 5% despite a more than 30% drawdown from October highs, indicating institutional allocators are largely holding positions.

“Selling pressure is primarily retail-driven from leveraged and short-term participants,” Youssef added.

Additionally, last month, JPMorgan analysts projected that Bitcoin could climb to $170,000 within six to twelve months as perpetual futures deleveraging completes.

Currently, the global crypto market is valued at around $3.1 trillion, with Bitcoin accounting for approximately $1.8 trillion, and is projected to reach a new ATH next year as adoption grows.