JPMorgan Chase is exploring the possibility of offering cryptocurrency trading services to its institutional clients, including spot and derivatives products. The move comes amid growing client demand and a more favorable U.S. regulatory environment for digital assets. The bank's efforts are in early stages and depend on factors like demand, risks, and regulatory feasibility.
JPMorgan Chase, the largest U.S. bank by assets, is considering expanding its digital assets business by potentially offering cryptocurrency trading to institutional clients such as hedge funds and pension managers. According to a Bloomberg report on December 22, 2025, citing a person familiar with the matter, the bank is assessing various products and services through its markets division, which could include spot and derivatives trading. This initiative responds to increasing interest from clients seeking secure, regulated ways to trade digital assets, as they often avoid retail platforms like Coinbase due to compliance and custody concerns.
The deliberations occur against a backdrop of regulatory shifts under the Trump administration, which has passed the country's first stablecoin legislation and appointed pro-crypto regulators. Earlier this month, the Office of the Comptroller of the Currency (OCC) stated that banks can engage in permissible riskless principal transactions in crypto assets. The OCC also issued new national bank trust charters to five applicants in the digital asset and blockchain space, offering advantages like access to the Federal Reserve payments system.
JPMorgan has been active in blockchain technology. On December 11, 2025, it arranged a U.S. commercial paper issuance on the Solana blockchain, described as one of the earliest debt issuances on a public blockchain and the first in the U.S. to use blockchain for issuing and servicing securities. Recently, the bank's $4 trillion asset-management arm launched its first private tokenized money-market fund, My OnChain Net Yield Fund (MONY), on the Ethereum blockchain. In November 2025, JPMorgan began rolling out its deposit token, JPM Coin, to institutional clients on the Base blockchain.
Competitors like Morgan Stanley, Standard Chartered, and Goldman Sachs are also expanding crypto offerings, while platforms such as Coinbase Prime, Bullish, Kraken Institutional, Fidelity Digital Assets, and Galaxy Digital serve institutional needs. A JPMorgan representative did not immediately comment on the report. These developments signal blockchain's evolution from a niche crypto tool to core banking infrastructure, as explored by institutions like Citi, Visa, and others for payments and liquidity management.
