JPMorgan Crypto Trading Pivot Signals a New Phase for Institutional Adoption

[Ben Graham]

JPMorgan Crypto is quietly exploring what was once unthinkable: offering direct cryptocurrency trading to its institutional clients.

The shift is striking, given JPMorgan CEO Jamie Dimon recently said, “it’s the first time in his lifetime it’s ‘semi-rational’ to hold gold in your portfolio.”

According to people familiar with the discussions, the bank is assessing spot and derivatives trading as demand rises from hedge funds, asset managers, and corporates, who are navigating a friendlier US regulatory climate.

That’s right, 99Bitcoins fam. The Olive Gardens of the shadow banking sector are all out of the shrimp scampi and getting in on Bitcoin BTC $87,899.39 2.65% Bitcoin BTC Price $87,899.39 2.65% /24h Volume in 24h $30.51B Price 7d Learn more ; here’s what to know:

Key Takeaways

• Dimon recently said, “I don’t think you should smoke, but I defend your right to smoke. I defend your right to buy Bitcoin,”
• That rhetorical shift matters. Banks do not build desks for assets they think are going away.

What’s Next For JPMorgan Crypto? From “Pet Rock” to Prime Brokerage Adjacent

Market Cap

24h 7d 30d 1y All Time

Dimon once mocked the asset as worthless, yet his stance has evolved into pragmatic tolerance as client demand becomes impossible to ignore.

Dimon’s position now resembles regulated indifference rather than hostility.

“I don’t think you should smoke, but I defend your right to smoke. I defend your right to buy Bitcoin,” said Dimon at a JPMorgan investor conference in May.

BREAKING: JPMORGAN IS EXPLORING CRYPTO TRADING FOR INSTITUTIONAL CLIENTS – PER BLOOMBERG SOURCE

SOURCE: https://t.co/BImWlOEL3U pic.twitter.com/PMbp2PPc8R

— DEGEN NEWS (@DegenerateNews) December 22, 2025

That rhetorical shift matters. Banks do not build desks for assets they think are going away.

DISCOVER: 20+ Next Crypto to Explode in 2025

Is Regulatory Gravity Pulling Banks Into BTC?

The timing is no accident for JPMorgan. Guidance from the Office of the Comptroller of the Currency now explicitly allows US banks to custody crypto, act as intermediaries, and use digital assets as collateral. This clarity has lowered compliance friction just enough for risk committees to greenlight pilots.

JPMorgan has already arranged tokenized bond issuance on Solana for Galaxy Digital and plans to allow institutional clients to post Bitcoin and Ether as loan collateral. Trading is the logical next step.

BREAKING: JPMorgan exploring crypto spot and derivatives trading for institutional clients.

The same bank whose CEO called Bitcoin a "hyped-up fraud" and "pet rock."

The same Jamie Dimon who said "if I were the government I'd close it down."

Now building a trading desk.… pic.twitter.com/U3HoFewGml

— Simon Taylor (@sytaylor) December 23, 2025

The data backs the shift. CoinGecko shows Bitcoin still carrying a market cap near $1.8 T, even after a 29% pullback from October highs. Glassnode notes that long-term holders control more than 70% of the circulating supply, indicating a steady institutional conviction rather than quick, smash-and-grab transactions.

Derivatives markets tell the same story. CME Bitcoin futures open interest has remained elevated despite recent volatility, signaling that professional traders are staying engaged, even as retail appetite appears bottomless.

DISCOVER: Top 20 Crypto to Buy in 2025

What This Means for Crypto Markets in 2026

If JPMorgan launches crypto trading, liquidity deepens overnight, bid-ask spreads tighten, and volatility becomes more tradable and less chaotic.

To extend our Olive Garden analogy: it’s like Jamie Dimon said, you find one cockroach, and there’s likely dozens more, and many of them are ending up on your portfolio plates. Make sense, anon?

Watching Wall Street finally concede ground to digital assets feels surreal. At moments like this, it is hard not to think that institutions once dismissive enough to buy my entire bloodline on a whim are now quietly lining up for Bitcoin exposure.

EXPLORE: Seeking a Career Change? Become a Bitcoin Bounty Hunter in Fordow, Iran

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