JPMorgan is finally letting its clients buy Bitcoin, showing a huge change from one of Wall Street’s most famously skeptical institutions. And while CEO Jamie Dimon still doesn’t like crypto, he’s made it clear that what he thinks personally won’t stop the bank from giving customers what they want.
A Change in Tune, But Not in Tone
At JPMorgan’s annual investor day on May 19, Dimon confirmed that the bank will begin allowing clients to purchase Bitcoin. Those purchases will show up in client account statements, but the bank itself won’t be handling custody or storing the coins.
BREAKING: JPMorgan to “allow” clients to buy #Bitcoin, says CEO Jamie Dimon.
Allow? What are you, a toddler? You need daddy Dimon’s permission to buy freedom?
Be a man. Dump your JPM portfolio. Buy real #Bitcoin. And let the Dimons of this world choke on their f* arrogance. pic.twitter.com/21z8kc75JY
— Carl ₿ MENGER
(@CarlBMenger) May 19, 2025
Dimon, never one to mince words, compared it to smoking. “I don’t think you should smoke,” he said. “But I defend your right to smoke. I defend your right to buy Bitcoin.” So while the CEO hasn’t warmed to crypto, the bank is moving forward anyway.
From “Fraud” to Functionality
Jamie Dimon has spent years criticizing Bitcoin. He once called it a fraud and compared its hype to a tulip bubble. He’s also raised concerns about its use in money laundering and other illegal activity. Still, the demand from clients has clearly reached a point where ignoring it is no longer an option.
JPMorgan has previously dabbled in blockchain and crypto services behind the scenes, but this is the most public acknowledgment yet that crypto is here to stay, and clients want access to it through the traditional banking system they trust.
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JPMorgan Joins the Club
With this move, JPMorgan joins other major financial institutions that have already opened the door to Bitcoin. Morgan Stanley began letting its wealth clients buy spot Bitcoin ETFs last year. Goldman Sachs and Fidelity have also been expanding their crypto services, especially for institutional clients.
The wider trend is hard to ignore. Wealthy investors are increasingly asking their banks and brokers to provide crypto options, and major players are responding. The rollout of spot Bitcoin ETFs earlier in 2025 added another layer of legitimacy, giving traditional investors easier access to crypto markets without needing a separate wallet or exchange account.
Timing That Makes Sense
The announcement comes during a strong year for Bitcoin, which is currently trading above $105,000. That’s helped change sentiment across finance, and regulators in the US have also taken a slightly more hands-off approach this year. That combination of price momentum and lighter oversight is giving large banks a bit more breathing room to explore crypto options without feeling like they’re walking a legal tightrope.
While JPMorgan won’t be holding or safeguarding Bitcoin itself, the fact that clients can now buy and track it through their regular accounts is a big step forward for mainstream adoption.
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What Happens Next?
JPMorgan’s approach is cautious, but it still matters. The bank isn’t going all-in, but it’s acknowledging that crypto is no longer a fringe asset. For many investors, being able to view Bitcoin alongside their stocks and bonds is a convenience that may make them more likely to invest.
As for Jamie Dimon, he might never be a fan. But at this point, he doesn’t have to be. His clients have made it clear they want access to Bitcoin, and now, they’re getting it.
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Key Takeaways
- JPMorgan now allows clients to buy Bitcoin, which is a major change, despite CEO Jamie Dimon’s continued skepticism toward crypto.
- Client Bitcoin purchases will be visible on account statements, but JPMorgan will not custody or directly store any crypto assets.
- Jamie Dimon compared Bitcoin access to smoking — not endorsing it, but defending the right to choose, reflecting growing client demand.
- JPMorgan joins Morgan Stanley, Goldman Sachs, and Fidelity in offering Bitcoin access, as institutional crypto interest continues to grow.
- The move aligns with Bitcoin trading above $105,000 and a friendlier US regulatory tone, giving big banks more room to accommodate crypto.
The post JPMorgan Opens Bitcoin Access to Clients Despite CEO’s Skepticism appeared first on 99Bitcoins.