JPMorgan Chase is weighing the possibility of offering 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 that has not yet considered entering the cryptocurrency trading space for major clients. According to the report, JPMorgan is evaluating different types of products, including spot and derivatives trading, but has not committed to launching any specific services. 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 big investors, from hedge funds to pension managers, look for safer, more regulated ways to trade digital assets. These customers are often 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 that can handle large trades, offer greater liquidity, and meet institutional compliance standards.
Coinbase Prime is one of the leaders in the US as a crypto trading platform designed for institutions, but competition is growing. Bullish, owner of CoinDesk, operates a digital asset exchange built for institutional trading. Kraken has 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 join the mix.
The US regulatory environment around cryptocurrencies has begun to show signs of change, with a major cryptocurrency 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 volatile through the end of the year.
A JPMorgan representative had no immediate comment on the story.
