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2025 Closed With Signals: JPMorgan Inches Toward BTC, Taiwan Quietly Holds
Patrick Lowry
January 04, 2026
First off, Happy New Year! I hope you were able to enjoy the holidays with your family, and I wish you a joyful, lucrative, and fulfilling 2026.
Unfortunately, a Christmas rally was nowhere to be seen, but there were still some exciting developments in Bitcoin as the year came to a close.
TL;DR
JPMorgan could soon offer Bitcoin trading to institutional clients.
Taiwan becomes the latest nation-state to temporarily hold seized Bitcoin.
JPMorgan seems really interested in Bitcoin. I've written about their structured Bitcoin note last month, and the U.S. megabank is taking another step.
According to Bloomberg, the bank is weighing whether it should start offering Bitcoin spot and derivatives trading to institutional clients.
The bank is reportedly considering these products through its markets division and is currently undergoing an internal review. This internal review is focused on assessing client demand, potential risks, and compliance with U.S. regulations.
The surge in demand from major investors (specifically hedge funds, asset managers, and pension funds) is a key factor driving this review, Bloomberg reports.
Many of these institutions seem to prefer to transact in digital assets through established banks rather than relying on newer, crypto-native counterparties. It’s, therefore, no surprise that we’re seeing more and more banks get on board with crypto.
Last month, I also wrote about PNC Bank stepping in and offering spot Bitcoin trading products to selected investors.
The path seems clear: despite the recent price plunge, Bitcoin is starting to become a must-have for institutions and major capital allocators.
Taiwan Is the Latest Country to Hold Bitcoin 🇹🇼
It's been a while since I last wrote about nation-states and potential Bitcoin treasuries. However, we got some news that got lost amid the holiday celebrations.
Taiwan's Justice Minister confirmed on X that the island nation is actively holding over 210 BTC.
He further elaborated that judicial authorities currently hold 210.45 BTC, mostly seized from financial fraud or other crimes.
In addition to Bitcoin, they hold other digital assets, including ETH, BNB, BSC, and BTCB, as well as stablecoins and a small portion of specific tokens.
In total, the country holds roughly $41 million or just over 1,301,000,000 New Taiwan Dollars worth of crypto. Bitcoin makes up over $18 million of that.
With that position, Taiwan becomes the 10th-largest nation-state holder of Bitcoin, according to Bitcoin Treasuries.
However, according to government officials' comments, the holdings represent a temporary result of criminal seizures, not an official treasury.
But if you consider how future-looking Taiwan is, often cited as the capital of chip manufacturers, these officials could potentially also take a look at BTC as a treasury asset.
And if they do, Taiwan could become a prime example of a country that embraces new technology and the future outlook with the best money ever created.
Let’s see if they realize this or if that’s just me romanticizing…
Elsewhere in Bitcoin đź“–
A quick look at what else has been happening in Bitcoin:
Your fellow stacker in sats,
Patrick Lowry
PS: Connect with me up on X if you want to hear more of my thoughts on Bitcoin and digital assets.
Disclaimer: The opinions expressed in this newsletter are solely those of the author and do not necessarily represent the views of any associated company. This newsletter is for educational and informational purposes only and should not be construed as investment, financial, or any other professional advice. Investing in cryptocurrencies is highly speculative and carries a significant risk of substantial financial loss, so you must conduct your own thorough research and consult with independent professional advisors before making any decisions.