TL;DR
- JPMorgan will allow its clients to buy Bitcoin through their accounts, though custody will have to be handled by external providers.
- Jamie Dimon reiterated his distrust of Bitcoin but admitted that institutional demand and regulatory changes forced this adjustment.
- The bank is exploring blockchain applications and recently executed its first structured transaction on a public network alongside Ondo Finance and Chainlink.
JPMorgan Chase has revised its stance on Bitcoin and will now let clients purchase BTC through their accounts, though it won’t offer custody services. CEO Jamie Dimon confirmed the decision during the bank’s 2025 Investor Day, responding to steadily growing institutional demand.
Despite this policy shift, Dimon made clear he still doesn’t trust Bitcoin. He recalled his longstanding position and past criticism of the cryptocurrency, having called it a “fraud” in 2017 and a “Ponzi scheme” earlier this year. However, he acknowledged that, given client interest and a more flexible regulatory framework in the United States, the bank opted to enable transactions with the asset. Clients will be able to buy Bitcoin but must manage storage through specialized external services.
This policy change stems from the impact of new regulations promoted by the Trump administration. Federal authorities now allow banks to work with digital assets, provided they demonstrate adequate risk controls. This shift has pushed several traditional firms to reconsider their position on the crypto industry, adjusting strategies to balance profitability with regulatory oversight.
JPMorgan Continues to Explore Blockchain Applications
The bank’s announcement comes as more financial institutions increase their involvement in the crypto market. This new landscape has strongly boosted adoption of financial products tied to digital assets. Additionally, Bitcoin’s recovery — currently trading above $105,000 — has driven steady growth in price expectations and available liquidity.
At the same time, JPMorgan has started exploring more practical blockchain use cases within its operations. The firm recently completed its first structured transaction on a public blockchain, collaborating with Ondo Finance and Chainlink. Although Dimon remains skeptical about blockchain’s real impact on the financial system, he admitted interest in these technologies continues to rise.
JPMorgan now joins a growing list of institutions opening the door to crypto markets, creating products that give institutional and wealth management clients a foothold in the industry.
