71% of respondents to a JPMorgan e-trading survey for institutional traders said they have no plans to trade in cryptocurrency this year.
“The majority of traders have no plans to trade crypto or digital coins,” according to the JPM January survey of institutional traders.
The percentage of those showing interest in crypto decreased from 78% in 2024 to 71% in 2025. This apparent lack of interest in trading crypto comes despite the regulatory environment for digital assets improving in the U.S. following President Trump’s shakeup of major financial agencies.
“Recent headlines suggest that the new administration supports the market and recent changes have lowered the barriers for traditional banking community members to enter this space,” Eddie Wen, JPMorgan’s global head of digital markets, told Bloomberg.
100% of the survey’s respondents said they plan to increase online or e-trading activity, especially for less liquid assets.
Traders said that inflation and tariffs will have the biggest impact on the markets this year, followed by geopolitical tension. Additionally, 41% of those surveyed said market volatility was the biggest trading challenge, up from 28% last year.
“It does not surprise me that 51% of the participants thought that tariffs and inflation will be two of the central risks or two of the central spots for the market to focus on,” said Gergana Thiel, global co-head of Macro Sales at JPMorgan.
The annual survey of 4,200 JPMorgan clients participating from 60 locations around the world ran from January 9 to 23.