JPMorgan to Let Clients Buy Bitcoin, Marking Dramatic Policy Shift

In a significant policy shift, JPMorgan Chase CEO Jamie Dimon reportedly announced today that the bank will allow its clients to buy Bitcoin. 

This marks a notable departure from its historically critical stance on Bitcoin and cryptocurrency overall.

Is JPMorgan Changing Its Stance on Bitcoin?

Speaking at JPMorgan’s 2025 Investor Day, Dimon stated that while he personally remains skeptical of Bitcoin, the bank will facilitate client purchases of the digital asset.

However, JPMorgan will not offer custody services for Bitcoin, requiring clients to manage storage through third-party providers.

This development reflects a broader trend of increasing institutional engagement with digital assets. The investment banking giant has consistently criticized crypto, labeling Bitcoin a “fraud” in 2017 and a “Ponzi scheme” earlier this year.  

There are even rumors that previously, Dimon threatened to fire employees who traded Bitcoin. The changing tone and decision reflect growing client demand and the evolving financial space.

Also, the move aligns with JPMorgan’s recent blockchain initiatives. Recently, the firm executed its first structured transaction on a public blockchain in collaboration with Ondo Finance and Chainlink. 

As Bitcoin’s price hovers around $105,000, nearing its all-time high, JPMorgan’s policy change may signal a new era of mainstream financial institutions embracing cryptocurrency.

The bank will allow Bitcoin transactions but not store digital assets for clients. So, external custody solutions are still required for safekeeping.