JPMorgan Chase is considering whether to offer cryptocurrency trading services to institutional clients, Bloomberg reported Friday, citing a person familiar with the matter.
The move would make the largest U.S. bank by assets one of the most significant financial institutions yet to consider entering the crypto trading space for major clients. According to the report, JPMorgan is evaluating different types of products, including spot trading and derivatives, but has not committed to launching a specific service. The decision will depend on customer demand, perceived risks and whether the bank sees long-term business opportunities in the sector.
JPMorgan’s deliberations come as large investors – from hedge funds to pension managers – seek safer, more regulated ways to trade digital assets. Often, these customers are unable or unwilling to use retail-focused platforms like Coinbase (COIN) or Binance due to compliance, custody, and trade execution issues. Instead, they require dedicated infrastructure capable of handling large transactions, offering greater liquidity, and meeting institutional compliance standards.
Coinbase Prime is one of the leaders in the United States as an institution-friendly cryptocurrency trading platform, but competition is heating up. Bullish, owner of CoinDesk, operates a digital asset exchange designed for institutional trading. Kraken offers a similar offering through its Kraken Institutional platform. Several other companies, including Fidelity Digital Assets and Galaxy Digital, are also active in the space. Now JPMorgan could be added to the mix.
The US regulatory environment around crypto has started to show signs of change, and a major crypto bill is expected to be passed soon. The move has given many institutions greater confidence that digital asset markets are moving under clearer rules, even if prices remain volatile until the end of the year.
A representative for JPMorgan did not immediately comment for this story.
