JPMorgan Opens the Door for Clients to Buy Bitcoin

From “Fraud” to Feature

JPMorgan Chase just dropped a bombshell: clients will soon be able to buy Bitcoin directly through the bank. Yes, that’s the same JPMorgan whose CEO Jamie Dimon once called Bitcoin a “fraud”, a “pet rock”, and said he'd “shut it down” if he could.

But times — and client demand — change.

While JPMorgan won’t hold the Bitcoin itself, it will integrate BTC purchases into client portfolios and reporting tools, essentially giving investors the stamp of legitimacy and ease of traditional finance.

A Major Policy Reversal

Dimon’s announcement marks a radical shift from his previous hardline stance. Just last year, he doubled down on his disdain for crypto. Yet under the hood, JPMorgan has been building blockchain infrastructure and offering exposure to crypto-linked products — especially for institutional clients. Now, the world’s largest investment bank is entering the retail-facing Bitcoin market, following rivals like Morgan Stanley, which in January began letting advisors offer spot Bitcoin ETFs to select clients.

So what changed?

• Client pressure likely played a major role.

• The regulatory tide has shifted, especially after Donald Trump’s return to the White House and a wave of crypto-friendlier policies.

• In January, the SEC rolled back SAB 121, a rule that previously blocked banks from offering crypto custody services.

A Green Light From Washington

Since Trump’s 2024 return to the presidency, U.S. crypto policy has noticeably softened. The SEC has rescinded some of its more restrictive rules. And major players like BlackRock, Fidelity, and Franklin Templeton have launched spot Bitcoin ETFs — all now seeing inflows in the billions. JPMorgan’s shift is both strategic and pragmatic: if their clients are already going to own crypto, they may as well facilitate the journey — and take a cut.

What This Means for Crypto

This move adds yet another layer of institutional credibility to Bitcoin and signals a new phase in Wall Street adoption. While JPMorgan won’t yet custody digital assets directly, the door is now wide open.

It’s also a sign that Bitcoin is being normalized, not just tolerated. As Dimon said in the past:

Well, he just did.