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

According to informed sources, JPMorgan Chase is considering providing cryptocurrency trading services to institutional clients, highlighting the increasing involvement of Wall Street banks in the digital asset sector. According to reports, JPMorgan is conducting a comprehensive assessment of its market business in order to explore the types of services that can be introduced to further expand its influence in the cryptocurrency market. These services may include spot trading and derivative trading in various areas. However, the current efforts are still in the early exploration stage, and the development of specific plans will depend on whether the market has enough demand to support the launch of any particular product. JPMorgan declined to comment on this. If this initiative is ultimately implemented, it will be another key milestone in the broader institutional acceptance process of digital assets, a process that was promoted during the presidency of former U.S. President Trump, who promised to make the U.S. the "cryptocurrency capital." In comparison, its competitor Morgan Stanley plans to offer cryptocurrency trading services on its E*Trade platform starting in the first half of 2026 through a partnership with digital asset infrastructure provider Zerohash. In addition, JPMorgan is also very active in the blockchain field. Earlier this month, the bank successfully arranged a short-term bond issuance for Galaxy Digital on the Solana blockchain. It is understood that JPMorgan has been active in the cryptocurrency field recently, with its CEO, Jamie Dimon, showing an interesting change in attitude towards cryptocurrencies. Previously, Dimon had hinted at a softening attitude towards cryptocurrencies. At the bank's Investor Day in May, Dimon reiterated concerns about the "leverage function in the system," "abuse," and "terrorism" aspects of cryptocurrencies, but also indicated that JPMorgan will not hinder investors from entering the market. He openly stated, "I don't support it," but "will allow customers to buy Bitcoin, just won't provide custody services, and will include it in client financial statements." He compared it to smoking, saying that although he doesn't believe people should smoke, he will defend their right to do so, and similarly will defend clients' right to buy Bitcoin and encourage them to do so. Taking a more macro perspective, the normalization of cryptocurrencies is not a quick process, but rather a process that takes many years. However, this process has clearly accelerated in recent times. According to CoinGecko data, the total market value of the global cryptocurrency market is currently around $3.1 trillion, with Bitcoin, the largest cryptocurrency by market capitalization, accounting for approximately $1.8 trillion of that.