Dimon Criticizes Bitcoin but Morgan Stanley Finally Opens BTC Investment Channel!
Turning Point! Dimon publicly denounces Bitcoin, yet opens the door for clients!
At JPMorgan's annual Investor Day, CEO Jamie Dimon dropped a bombshell: JPMorgan will soon allow clients to invest in Bitcoin. However, he emphasized that the bank will only provide access and will not take on custodial responsibilities.
Publicly Denouncing, Privately Embracing
Although Dimon still insists that Bitcoin has 'no intrinsic value' and criticizes its association with money laundering and illegal transactions, he has chosen to open the investment door for clients. He stated, 'I don’t support smoking, but I defend your right to smoke. Bitcoin is the same.'
This Wall Street mogul, who once bluntly called Bitcoin a 'scam' at the Davos Forum, is now bowing to the market through actual operations.
JPMorgan's ETF Investment Channel
According to sources, JPMorgan is exploring how to provide clients with Bitcoin ETF investment options. Currently, the bank only allows investment in Bitcoin futures, with no involvement in spot holdings. With the current wave of ETF interest and institutional entry, this restriction is gradually loosening.
Morgan Stanley has already taken this step, and JPMorgan clearly does not want to fall behind.
Has the Blockchain Craze Cooled? Dimon Pours Cold Water
In the same event, Dimon also commented on the cooling off of blockchain enthusiasm: 'We've been discussing this technology for over 10 years, and it's not as important as everyone thinks.' Despite JPMorgan's own deep involvement in the blockchain space, including the actual applications of JPM Coin and the Kinexys platform, he clearly holds a reserved attitude towards the future role of this technology.
Regulatory Changes, Institutions Accelerating Entry
Against the backdrop of increasingly stringent U.S. securities regulation, major banks are quietly adjusting their strategies. The Federal Deposit Insurance Corporation (FDIC)'s latest guidance states that as long as risk can be controlled, banks can participate in crypto business without prior approval. This clears the way for JPMorgan and other financial institutions to fully embrace digital assets.
Conclusion: Dimon's Dual Attitude Reveals the True Direction of the Market
On the surface, he sings the blues for Bitcoin, but in reality, he is gradually opening investment channels. JPMorgan's choice exposes the underlying logic of the crypto market: you can hate it, but you cannot ignore it.
