A recent JPMorgan e-trading survey has revealed that institutional traders remain hesitant to enter the crypto market. According to the survey, 71% of respondents have no plans to trade crypto this year, down slightly from 78% in 2024.
While the percentage of uninterested traders has decreased, the survey indicates that only 16% plan to trade crypto in 2025, and 13% are already doing so. These figures have increased compared to last year but still show that crypto remains a niche asset for institutional investors.
Increased Interest in E-Trading
Despite the cautious approach toward crypto, the survey highlights a broader shift towards digital trading. 100% of respondents stated that they plan to increase online or e-trading activity, particularly in less liquid markets.
JPMorgan’s Eddie Wen, global head of digital markets, noted that recent regulatory shifts in the U.S. have created a more favorable environment for crypto adoption. However, traditional financial players continue to tread carefully.
Market Risks: Inflation and Tariffs in Focus
The survey also shed light on broader market concerns. Institutional traders cited inflation and tariffs as the biggest risks impacting financial markets in 2025. 41% of respondents identified market volatility as their biggest trading challenge, a significant jump from 28% in 2024.
Gergana Thiel, JPMorgan’s global co-head of Macro Sales, stated that the focus on tariffs and inflation was expected, given ongoing economic uncertainties and geopolitical tensions.
US Government’s Crypto Shift
Despite institutional hesitation, signs of growing U.S. government support for crypto are emerging. The Securities and Exchange Commission (SEC) recently scaled back its crypto enforcement unit, easing regulatory pressure on the industry.
Additionally, Donald Trump signed an executive order to establish a sovereign wealth fund, which could include Bitcoin holdings. The fund is set to be managed in part by Treasury Secretary Scott Bessent and Commerce Secretary Howard Lutnick, both known for their pro-crypto stance.
Meanwhile, White House “crypto czar” David Sacks emphasized the government’s goal to bring stablecoins onshore, aiming to bolster the U.S. dollar’s dominance in global digital transactions.
