JPMorgan is preparing to offer cryptocurrency trading services to its institutional clients, marking a significant shift for the Wall Street powerhouse. According to reporting by Bloomberg, the bank is evaluating products and services that may include both spot and derivatives trading, though these initiatives remain in the early stages.
The move follows a broader embrace of digital assets by the bank. In October 2025, JPMorgan allowed institutional clients to use Bitcoin and Ether as collateral, and earlier this month, its asset management division launched its first tokenized money fund. These steps signal the bank’s gradual integration of crypto into mainstream financial services.
The shift is notable given CEO Jamie Dimon’s historically critical stance on digital currencies. Dimon has previously compared Bitcoin to a “pet rock,” claiming its only uses were for illegal activities such as money laundering and fraud. The latest pivot highlights the bank’s pragmatic approach amid evolving market conditions and regulatory clarity.
JPMorgan’s crypto expansion also aligns with recent policy developments. President Donald Trump signed the Genius Act in July, establishing a regulatory framework for stablecoins and facilitating institutional participation in the sector. This framework has encouraged other major financial institutions to deepen their crypto offerings.
Other Wall Street players have similarly advanced into digital assets. BlackRock manages nearly US$100 billion in Bitcoin ETFs and over US$11 billion in Ethereum ETFs, while Fidelity is engaged in crypto staking. Goldman Sachs operates a private blockchain for tokenized fund redemptions, and banks like UBS, Citi, and HSBC have experimented with tokenized bonds, on-chain settlements, and crypto custody services.
Despite this institutional momentum, major cryptocurrencies have faced price pressures. Bitcoin is down roughly 30% to about US$87,000 since peaking at US$126,000 in October, while Ethereum has fallen approximately 30% to US$2,919. Solana is down around 43% to US$123 over the same period. Analysts suggest that large banks are focused on long-term adoption rather than short-term price swings.
The move by JPMorgan is the latest indication that Wall Street is increasingly integrating digital assets into conventional finance, signaling a broader shift in institutional sentiment toward crypto.
