JPMorgan Chase & Co. is weighing plans to expand deeper into cryptocurrency markets by potentially offering trading services to institutional clients, signaling a further shift by major global banks toward digital assets as regulatory conditions evolve in the United States.
What Happened
Quoting sources, Bloomberg reported that the bank’s markets division is evaluating whether it can introduce crypto-related products such as spot trading and derivatives for large clients.
The discussions are still at an early stage and any rollout would depend on client demand, internal risk assessments, and the regulatory feasibility of specific offerings. JPMorgan declined to comment publicly on the plans.
The internal review comes amid renewed institutional interest in digital assets following recent changes in the U.S. regulatory environment.
Since President Donald Trump returned to office, his administration has moved to appoint regulators viewed as more supportive of the crypto industry and has advanced new legislation focused on stablecoins.
Earlier this month, the Office of the Comptroller of the Currency clarified that U.S. banks are permitted to act as intermediaries in crypto markets, a move that has reduced long-standing regulatory uncertainty for large lenders.
For JPMorgan, a move into crypto trading would mark another step beyond its existing blockchain initiatives.
The bank has already been active in tokenization and distributed ledger technology, including recently arranging the issuance, distribution and settlement of a short-term bond for Galaxy Digital Holdings LP on the Solana (SOL) network.
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It has also indicated plans to allow institutional clients to use Bitcoin (BTC) and Ether (ETH) holdings as collateral for loans.
Why It Matters
The shift underscores a broader change in tone on Wall Street, including from JPMorgan chief executive Jamie Dimon, who has historically criticized Bitcoin.
While Dimon has not endorsed the asset, his recent comments suggest a more pragmatic stance, emphasizing client choice rather than outright opposition.
JPMorgan is not alone.
Standard Chartered recently launched spot trading services for Bitcoin and Ether for institutional clients through its UK operations.
In Italy, Intesa Sanpaolo SpA completed its first Bitcoin purchase via its in-house digital assets desk.
Meanwhile, Goldman Sachs Group Inc. has been running a crypto derivatives desk for several years, and BlackRock Inc. has built a Bitcoin exchange-traded fund that now manages roughly $68 billion in assets.
The renewed institutional push comes as Bitcoin prices remain volatile.
The cryptocurrency has fallen roughly 29% from its October peak of over $126,000 and was trading near $90,130 at the time of writing.
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