TechFlow, Dec 24 — According to CoinDesk, Wall Street giant JPMorgan plans to offer cryptocurrency trading services to institutional clients. Analysts believe this move could reshape the competitive landscape and benefit existing crypto platforms.
Owen Lau, analyst at ClearStreet, said JPMorgan's entry into the crypto space will further legitimize cryptocurrencies and expand distribution channels, potentially creating a ripple effect that benefits platforms like Coinbase and Bullish through institutional order aggregation and matching.
Ed Engel, analyst at Compass Point, noted that Wall Street's involvement in crypto will broaden the digital asset market, allowing Galaxy Digital and Bullish to benefit from increased institutional participation, while Coinbase and Circle Financial may face margin pressure.
