JPMorgan Chase is exploring cryptocurrency trading services for institutional clients, according to Bloomberg. The bank is evaluating expansion into spot and derivatives crypto trading in response to rising institutional demand and clearer U.S. regulatory guidance.

Any launch would depend on product demand, internal risk assessment, and regulatory feasibility, and plans remain preliminary. CEO Jamie Dimon, once a vocal critic of bitcoin, has recently distinguished between blockchain technology and digital assets, acknowledging that blockchain and stablecoins are real.

Beyond potential trading, JPMorgan has scaled blockchain initiatives, including a $50 million short-term bond for Galaxy Digital on Solana using USDC, and allowing bitcoin and ether as loan collateral. These efforts are led by Kinexys, the bank’s digital asset division, which launched the MONY tokenized money market fund on Ethereum and JPMD deposit tokens on the Base network to support 24/7 institutional settlement.