JPMorgan weighs crypto trading for institutions amid growing demand

• JPMorgan is exploring crypto trading services for institutional clients, including spot and derivatives products, Bloomberg reported.
• Client demand and evolving U.S. crypto regulations are driving the bank’s interest in entering the market, according to a person familiar with the matter.

JPMorgan Chase is weighing whether to offer cryptocurrency trading services to institutional clients, Bloomberg reported on Friday, citing a person familiar with the matter.

The move would make the largest U.S. bank by assets one of the most prominent financial institutions yet to consider entering the crypto trading space for major clients. According to the report, JPMorgan is assessing different types of products, including spot and derivatives trading, but has not committed to launching any specific service. The decision will depend on client 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 — look for more secure and regulated ways to trade digital assets. These clients often can't or won’t use retail-focused platforms like Coinbase (COIN) or Binance due to compliance, custody and trade execution concerns. Instead, they require dedicated infrastructure that can handle large trades, offer deeper liquidity and meet institutional compliance standards.

Coinbase Prime is one of the leaders in the U.S. as a crypto trading platform tailored for institutions, but competition is growing. Bullish, which owns CoinDesk, operates a digital asset exchange built for institutional trading. Kraken has a similar offering through its Kraken Institutional platform. Several other firms, including Fidelity Digital Assets and Galaxy Digital, are also active in the space. Now JPMorgan could be added to the mix.

The U.S. regulatory environment around crypto has started to show signs of change, with an important crypto bill expected to be passed soon. That decision gave many institutions more confidence that digital asset markets are maturing under clearer rules, even as prices remain choppy through the end of the year.

A representative for JPMorgan didn't provide a comment on the story immediately.

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