J.P. Morgan’s Ethereum contract for JPM Coin (JPMD) carried no outstanding balance and logged no transfers by Oct. 22, a snapshot taken three days after the bank widened access to approved institutional clients.
The Base network showed a different picture: on Oct. 22, its two addresses held 1,001,000 JPMD, worth about $1 million. That total was unchanged from Nov. 20, 2025.
JPMD represents deposits denominated in U.S. dollars that J.P. Morgan holds. The bank announced on Oct. 19 that approved institutional clients would have access through Ethereum, after JPMD had already been offered on Base. EconoTimes previously covered J.P. Morgan’s move to Ethereum.
The Oct. 22 supply reading does not measure all payments made. If JPMD is issued and redeemed on the same day, the balance at the snapshot may not change; J.P. Morgan has not released volume totals for the token on public networks.
