JPMorgan Gives Clients Green Light to Buy Bitcoin, ETF Access on the Way
JPMorgan Chase, the largest bank in the United States, is preparing to let its clients buy Bitcoin — a move that marks a major shift in its approach to digital assets, CEO Jamie Dimon announced at the company’s annual Investor Day event.
Clients Get Bitcoin — But the Bank Won’t Hold It
In an interview with CNBC, Jamie Dimon said JPMorgan will soon offer clients the option to buy Bitcoin, although he stressed that the bank itself will not store or directly hold Bitcoin.
“We won’t hold it,” Dimon said. “But Bitcoin will show up on customer account statements.”
Details of the plan have yet to be fully disclosed, but the move is seen as a response to growing demand from institutional and retail clients looking to gain access to the cryptocurrency market in a more regulated and secure manner.
Bitcoin ETFs – The Next Door for JPMorgan Clients
According to sources quoted by CNBC, JPMorgan is also preparing to offer access to spot Bitcoin exchange-traded funds (ETFs) – a type of investment that Morgan Stanley and several other financial institutions have added to their product offerings for qualified clients.
Currently, JPMorgan’s exposure to digital assets is primarily through derivatives such as futures, rather than offering direct investment options.
Jamie Dimon – From Fierce Skeptic to Cautious Move
Despite opening up new doors for clients, Jamie Dimon has maintained his long-standing skepticism about Bitcoin. He went on to express concerns about the asset being used in criminal activities such as money laundering, sex trafficking, and terrorist financing.
“I don’t think you should smoke, but I defend your right to smoke. Likewise, I defend your right to buy Bitcoin,” Dimon said, echoing comments he made to CBS News earlier this year.
Dimon has been a vocal critic of Bitcoin. In 2018, he called it a “fraud,” even threatening to fire JPMorgan employees if they traded it. At Davos 2025, after Bitcoin surged past $100,000, he continued to quip that it “doesn’t do anything,” calling it a “pet rock.”
JPMorgan – Entering the Crypto World, Despite CEO’s ‘Uncomfortable’ Behavior
Although Dimon personally maintains a tough stance, JPMorgan has been slowly entering the crypto space. The bank is now an authorized participant in BlackRock’s iShares Bitcoin Trust, and has been vocal in praising blockchain technology as a revolutionary force in finance.
The conflict between Dimon’s personal stance and JPMorgan’s business strategy reflects growing pressure from the market and clients who don’t want to miss out on the next wave of growth in digital assets.
Conclusion
The decision to allow clients to buy Bitcoin and potentially open access to a spot Bitcoin ETF shows that JPMorgan is adapting to market trends, despite the harsh comments from its CEO. While the bank has maintained some distance from directly owning the asset, giving clients access to Bitcoin is a big step forward, signaling the gradual integration of traditional financial institutions into the world of cryptocurrencies.
