JPMorgan Chase CEO Jamie Dimon gives a speech during the Global Markets Conference, prior to the Choise France Summit, in Paris on May 15, 2025.
Michel Euler | AFP | Getty images
JPMorgan Chase Allows customers to buy Finly Bitcoin. But CEO Jamie Dimon is still skeptical.
“We’re going to allow you to buy it,” said Dimon on Monday at the annual investor day of the bank. “We are not going to give custody. We are going to put it in statements for customers.”
The decision marks a remarkable step for the largest American bank, in particular due Dimon’s history of criticizing the digital currency and the cryptomarkt broadly, and is the newest sign of Bitcoin access to mainstream investing. Since August, Morgan Stanley Has enabled his financial advisers to pitch sub-spot Bitcoin exchange-related funds to qualifying customers.
Dimon made it clear that his personal view of Bitcoin remains unchanged, and emphasized Isssues such as money laundering and the lack of clarity about ownership, together with “sex trade, terrorism.”
“I don’t think you’ll show smoke, but I defend your right to smoke,” said Dimon. “I defend your right to buy Bitcoin.”
The bank looks at offering customers access to Bitcoin Ethfs, according to a person who has been informed about her plans. Until now, the company that you have limited to its crypto exposure, mainly to futures-based products, has not directly owned by Bitcoin.
When Crypto valuations rose in 2021, Dimon rejected Bitcoin as ‘worthless’. I have the legislators of the Senate at the end of 2023 spin during the Senate who “has always been deep in contrast to crypto, bitcoin, etc.” And that “the one and only user suite for it is criminals, drag trafficers … for money, tax avoidance.” He said during the hearing that, “If I were the government, I would close it.”
At the World Economic Forum 2024 in Davos, Switzerland said Dimon: “Bitcoin does nothing. I call it the pet rock.” I added that: “This is the last time I am talking about this with CNBC, so help me God.”
Morgan Stanley CEO Ted Pick told CNBC during this year’s event in Davos that the investment bank is investigating ways to deepen its involvement in cryptocurrency markets and by navigating the regulations landscape under the pro-Crypto administration of President Donald Trump.
Since Trump took office in January, the Federal Deposit Insurance Corporation and the office of the Currency of the Currency has withdrawn their anti-crypto guidance, whereby the Federal Reserve partially follows the example. A return issued by the FED in January 2023 continues to limit banks to certain crypto-related activities. Although banks can now be Cryptia, thanks to the withdrawal of a accounting line Caled SAB 121, they are still confronted with certain restrictions on working directly with Digital activa companies.
Watch: Dimon says that his term of office is ‘from the board’
