JPMorgan Says Clients Will Be Allowed to Buy Bitcoin
Jamie Dimon said JPMorgan would allow clients to buy Bitcoin and show the asset on account statements even though the bank would not provide custody.
At JPMorgan Chase’s Investor Day on May 19, 2025, chief executive Jamie Dimon said the bank would allow clients to buy Bitcoin, while drawing a line at custody. He said JPMorgan would permit access and show Bitcoin holdings on client statements but would not itself take custody of the asset.
The statement was notable because JPMorgan is one of the world’s largest banks and because Dimon had spent years publicly criticizing Bitcoin. The May position did not amount to a full embrace of Bitcoin or a live custody product. Instead, it showed the bank distinguishing between its leadership’s views of the asset and its willingness to provide clients with market access.
That distinction was historically meaningful. As regulated finance absorbed Bitcoin ETFs, custody services, and trading infrastructure, large institutions increasingly treated customer demand as separate from executive endorsement. JPMorgan’s position illustrated how Bitcoin could enter mainstream financial distribution channels even when a bank remained unwilling to custody it directly.