JP Morgan is exploring providing spot and derivatives cryptocurrency trading to its institutional clients, Bloomberg reported, citing an unnamed source. Any offering would be based on client demand.
For several years the bank has been canvassing institutional traders about their interest in cryptocurrency, with the latest results published in February 2025. Traders already engaging rose from 9% to 13%, while those planning to engage increased from 12% to 16%. However, this poll was conducted before the very significant changes made by the Trump administration, removing many of the obstacles to bank offerings.
For example, the White House report on digital assets said the US would not adopt the current iteration of Basel rules for crypto-assets because they are overly punitive on banks engaging with crypto. Earlier this month the Comptroller of the Currency made changes allowing banks to engage in crypto trading where they act as “riskless intermediaries”.
JP Morgan CEO Jamie Dimon, a crypto skeptic, said in May that the bank would enable clients to buy cryptocurrencies, saying “I don’t think you should smoke, but I defend your right to smoke. I defend your right to buy bitcoin.”
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