Today, JPMorgan Chase CEO Jamie Dimon stated this week that the bank will soon allow customers to purchase Bitcoin, marking a significant shift in the stance of one of Wall Street's most outspoken cryptocurrency skeptics.

Dimon confirmed during the bank's annual investor day that customers will be able to buy the world's leading cryptocurrency through JPMorgan Chase, but the bank will not offer custody services. Instead, Bitcoin holdings will appear on customer statements, similar to external assets.

This move signifies a broader shift by institutions towards digital assets.

Dimon, who has served as chairman of the investment bank since 2006, has previously criticized Bitcoin multiple times, calling it 'worthless', 'fraud', and recently referred to it as a 'pet rock'. However, his remarks on Monday acknowledged that many industry insiders believe customer demand for cryptocurrencies is rising.

Dimon reiterated his personal opposition to Bitcoin but also seemed to concede to market realities. Following the Trump administration's implementation of more lenient regulatory policies, other major U.S. banks, including Morgan Stanley, have begun to offer qualified clients spot Bitcoin ETFs.

Earlier this year, the U.S. Securities and Exchange Commission rescinded SAB 121, which prohibited banks from holding digital assets on behalf of customers.

Although JPMorgan Chase will not directly custody crypto assets, the bank has previously explored internal uses of blockchain.