JPMorgan Chase is preparing to allow clients to purchase bitcoin, though the bank itself will not custody the asset, CEO Jamie Dimon confirmed.
Dimon maintained his critical stance on crypto, labeling himself “not a fan” of bitcoin, primarily citing concerns over its use in illicit transactions.
Despite this, JPMorgan continues to explore blockchain infrastructure, most recently piloting tokenized U.S. Treasury settlements on public blockchains via its Kinexys platform.
In a notable development for the traditional finance sector, JPMorgan Chase (JPM) will soon enable clients to buy Bitcoin (BTC)—a move that reflects growing institutional demand for digital assets. CEO Jamie Dimon made the announcement during the bank’s annual Investor Day, even as he reiterated his personal doubts about crypto.
Dimon’s comments echo his long-standing criticism of Bitcoin, yet the bank's actions suggest a more pragmatic approach. While JPMorgan won't provide direct custody services, the decision to offer BTC exposure acknowledges the asset's resilience and appeal.
Interestingly, this comes as the bank’s Kinexys platform recently completed a test involving the settlement of tokenized U.S. Treasuries on a public blockchain—highlighting a contrast between Dimon’s rhetoric and JPMorgan's deeper engagement with blockchain innovation.
This move underscores a broader trend: even the most traditional financial institutions are being pushed to adapt as crypto continues to mature and gain legitimacy