JPMorgan to allow crypto trading for institutional clients in latest embrace of the sector

JPMorgan is making another big bet on crypto. The Wall Street giant is considering letting institutional clients trade cryptocurrency, according to reporting on Monday from Bloomberg. These products and services may reportedly include spot and derivatives trading, and the efforts are still in their early stages. 

JPMorgan did not immediately respond to Fortune’s request for comment. 

The move comes amid the company’s broader embrace of digital assets. In October, the bank announced that it would allow institutional clients to use Bitcoin and Ether as collateral. And earlier in December, JPMorgan’s asset management arm launched its first tokenized money fund.  

The bank’s recent expansion of crypto is notable given how CEO Jamie Dimon has long expressed contempt for the sector. As recently as last year, Dimon compared Bitcoin to a “pet rock”, and said that its only uses were for ...