JPMorgan Considers Crypto Trading Services for Institutional Clients

TLDR

JPMorgan is evaluating cryptocurrency trading services for institutional investors, including spot and derivatives products
The bank’s CEO Jamie Dimon has criticized Bitcoin publicly while JPMorgan expands blockchain infrastructure
Morgan Stanley and Charles Schwab plan to launch crypto trading in 2026 for retail clients
JPMorgan launched a $100 million tokenized money-market fund on Ethereum in December
Bitcoin currently trades between $85,000 and $93,000 as institutional adoption increases

JPMorgan Chase is evaluating cryptocurrency trading services for institutional clients, sources familiar with the plans told Bloomberg. The bank is considering both spot trading and derivatives products as part of its digital asset expansion strategy.

The plans are in preliminary stages and require sufficient client demand before moving forward. JPMorgan’s markets division is reviewing which crypto products could be offered to institutional investors. The bank has not commented on the reports.

This potential move represents a shift for JPMorgan despite CEO Jamie Dimon’s public skepticism about Bitcoin. Dimon has called Bitcoin “pet rocks” and a “hyped-up fraud” in past statements. However, in May he told investors the bank would allow clients to purchase Bitcoin without providing custody services.

JPMorgan has actively built blockchain infrastructure while maintaining its critical stance on cryptocurrencies. The bank arranged a short-term bond for Galaxy Digital on the Solana blockchain earlier this month. This transaction showcased JPMorgan’s growing capabilities in tokenized financial products.

Recent Blockchain Initiatives

In December, JPMorgan launched the MONY fund, its first tokenized money-market fund on Ethereum. The fund started with $100 million in capital through the bank’s Kinexys Digital Assets platform. Qualified investors with at least $5 million in assets can invest using cash or USDC stablecoin.

The bank also partnered with Coinbase earlier this year to let customers link bank accounts to crypto wallets. JPMorgan has filed for Bitcoin-backed structured notes that track BlackRock’s BTC ETF performance. Clients can use Bitcoin and Ethereum holdings as collateral for loans.

Competing Banks Enter Crypto Market

Morgan Stanley announced crypto trading will launch on E*Trade in the first half of 2026 through a Zerohash partnership. The platform will give Morgan Stanley clients access to digital asset trading alongside traditional investments.

Charles Schwab CEO Rick Wurster said the $11.6 trillion firm will offer Bitcoin trading starting in the first half of 2026. Wurster stated that 20% of Schwab clients already own cryptocurrency through other platforms. Clients have requested the ability to consolidate their crypto holdings at Schwab.

PNC Bank partnered with Coinbase to provide Bitcoin trading services to its customers. These moves follow clearer regulatory signals under the Trump administration, which has pledged to make the U.S. the “crypto capital of the world.”

Bitcoin Market Performance

Bitcoin trades between $85,000 and $93,000 as it struggles to break resistance levels. The cryptocurrency has declined more than 30% from October highs while spot Bitcoin ETF holdings decreased less than 5%.

Ray Youssef, CEO of NoOnes, said Bitcoin has not performed as a hedge in 2025. The asset shows sensitivity to macroeconomic factors rather than operating as digital gold. Youssef explained that Bitcoin’s price depends on liquidity expansion and regulatory clarity.

The global cryptocurrency market stands at $3.1 trillion with Bitcoin representing $1.8 trillion of that total. JPMorgan analysts projected last month that Bitcoin could reach $170,000 within six to twelve months after perpetual futures deleveraging finishes. The bank’s final decision on crypto trading services will depend on client demand assessment and regulatory review.