From caution to entry: JPMorgan Chase (JPM.US) is preparing a cryptocurrency trading service

The Zhitong Finance App learned that, according to people familiar with the matter, JPMorgan Chase (JPM.US) is considering providing cryptocurrency trading services to institutional customers. This move highlights the increasing participation of Wall Street banks in the digital asset field.

According to related reports, J.P. Morgan Chase is conducting a comprehensive evaluation of its market business with the aim of exploring the types of services it can launch to further expand its influence in the cryptocurrency market. The scope of these services may cover various fields such as spot trading and derivatives trading. However, relevant efforts are currently still in the preliminary exploration stage, and the formulation of specific plans will depend on whether there is sufficient demand in the market to support the launch of any specific product.

J.P. Morgan declined to comment.

If the move is finally implemented, it will be another key milestone in the process of digital assets being adopted at the broader institutional level, and this process was carried forward during the administration of US President Trump, who promised to make the US a “cryptocurrency capital.”

In contrast, its competitor Morgan Stanley (MS.US) plans to provide cryptocurrency trading services on its E*Trade platform in the first half of 2026 through a partnership with digital asset infrastructure provider ZeroHash.

Furthermore, J.P. Morgan Chase is also quite active in the blockchain field. Earlier this month, the bank successfully arranged a short-term bond issue for Galaxy Digital on the Solana blockchain.

According to information, recently, J.P. Morgan Chase has continued to move in the cryptocurrency field, and its CEO Damon's attitude towards cryptocurrencies is intriguing. Previously, Dimon had hinted that his attitude towards cryptocurrencies had softened.

On the bank's Investor Day in May, although Dimon reiterated concerns about “leverage in the system,” “misuse,” and “terrorism,” etc. of cryptocurrencies, he also indicated that J.P. Morgan Chase will not hinder investors from entering the market.

He bluntly stated, “I don't approve of this,” but “customers will be allowed to buy bitcoins, but they will not provide custodial services, and they will also be included in the customer's financial statements.” He compared smoking to smoking, saying that although he doesn't think people should smoke, he will defend their right to smoke. He will also defend the right of customers to buy bitcoins and encourage them to let go.

Looking at it from a broader perspective, the normalization of cryptocurrencies did not happen overnight; it was a process that took many years. Recently, however, this process has accelerated markedly.

According to CoinGecko's data, the current total market capitalization of the global cryptocurrency market is about 3.1 trillion US dollars, while among many cryptocurrencies, Bitcoin, the largest, accounts for about 1.8 trillion US dollars in market capitalization.