Crypto News Today: JPMorgan Opens the Door to Bitcoin and ETFs

JPMorgan is set to allow its clients to buy Bitcoin and gain access to spot Bitcoin ETFs, according to statements made by CEO Jamie Dimon during the company’s annual investor day. The development marks a significant pivot for the largest U.S. bank, especially given Dimon’s long-standing public criticism of Bitcoin and cryptocurrencies in general.

Bitcoin Will Appear in JPMorgan Client Statements

Speaking with CNBC , Dimon confirmed that while the bank itself will not custody Bitcoin, clients will soon see their Bitcoin holdings reflected in their JPMorgan account statements. This passive facilitation opens the door for broader exposure to crypto assets through the bank, without JPMorgan taking direct custody or assuming liability.

“We’re not going to custody it,” Dimon said. “But I defend your right to buy Bitcoin.”

While Dimon’s stance on Bitcoin’s legitimacy remains unchanged—he reiterated concerns about its use in money laundering, terrorism, and sex trafficking—he acknowledged the market demand and clients’ rights to access digital assets.

Bitcoin ETF Access Reportedly in the Pipeline

Sources close to the matter revealed to CNBC that JPMorgan plans to offer access to spot Bitcoin ETFs, including popular products like BlackRock’s iShares Bitcoin Trust . This aligns JPMorgan with competitors such as Morgan Stanley, who already enable qualified clients to access these regulated investment vehicles.

Until now, JPMorgan’s crypto exposure was limited to futures-based products, often viewed as less efficient compared to direct or ETF-based exposure. The upcoming shift signals that crypto adoption within institutional finance is not just growing—it’s accelerating.

Dimon’s Love-Hate Relationship with Bitcoin

Jamie Dimon’s history with Bitcoin is complicated. Though he often publicly bashes Bitcoin as a “pet rock” and a tool for criminals, JPMorgan has nonetheless increased its involvement in blockchain and digital asset infrastructure:

• In 2021, Dimon called Bitcoin “worthless” in a Senate hearing.
• In 2018, he labeled it a “fraud” and threatened to fire traders who dealt with it.
• Earlier in 2025, after Bitcoin broke the $100K mark, he still insisted Bitcoin “does nothing.”

Yet despite this rhetoric, JPMorgan is listed as an authorized participant in BlackRock’s iShares Bitcoin Trust, a clear contradiction to Dimon’s personal opinions.

Crypto Market Impact: Bullish or Just Business?

This move by JPMorgan could further legitimize Bitcoin ETFs and drive more institutional inflows into the crypto market. Even if reluctantly, Wall Street giants are increasingly making room for digital assets, following client demand and competitive pressure.

While Jamie Dimon’s skepticism remains firm, JPMorgan’s latest steps are undeniably bullish for the broader crypto industry. With one of the biggest banks in the world acknowledging Bitcoin in client portfolios, mainstream adoption is no longer a question of if—but when.

JPMorgan is set to allow its clients to buy Bitcoin and gain access to spot Bitcoin ETFs, according to statements made by CEO Jamie Dimon during the company’s annual investor day. The development marks a significant pivot for the largest U.S. bank, especially given Dimon’s long-standing public criticism of Bitcoin and cryptocurrencies in general.

Bitcoin Will Appear in JPMorgan Client Statements

Speaking with CNBC , Dimon confirmed that while the bank itself will not custody Bitcoin, clients will soon see their Bitcoin holdings reflected in their JPMorgan account statements. This passive facilitation opens the door for broader exposure to crypto assets through the bank, without JPMorgan taking direct custody or assuming liability.

“We’re not going to custody it,” Dimon said. “But I defend your right to buy Bitcoin.”

While Dimon’s stance on Bitcoin’s legitimacy remains unchanged—he reiterated concerns about its use in money laundering, terrorism, and sex trafficking—he acknowledged the market demand and clients’ rights to access digital assets.

Bitcoin ETF Access Reportedly in the Pipeline

Sources close to the matter revealed to CNBC that JPMorgan plans to offer access to spot Bitcoin ETFs, including popular products like BlackRock’s iShares Bitcoin Trust . This aligns JPMorgan with competitors such as Morgan Stanley, who already enable qualified clients to access these regulated investment vehicles.

Until now, JPMorgan’s crypto exposure was limited to futures-based products, often viewed as less efficient compared to direct or ETF-based exposure. The upcoming shift signals that crypto adoption within institutional finance is not just growing—it’s accelerating.

Dimon’s Love-Hate Relationship with Bitcoin

Jamie Dimon’s history with Bitcoin is complicated. Though he often publicly bashes Bitcoin as a “pet rock” and a tool for criminals, JPMorgan has nonetheless increased its involvement in blockchain and digital asset infrastructure:

• In 2021, Dimon called Bitcoin “worthless” in a Senate hearing.
• In 2018, he labeled it a “fraud” and threatened to fire traders who dealt with it.
• Earlier in 2025, after Bitcoin broke the $100K mark, he still insisted Bitcoin “does nothing.”

Yet despite this rhetoric, JPMorgan is listed as an authorized participant in BlackRock’s iShares Bitcoin Trust, a clear contradiction to Dimon’s personal opinions.

Crypto Market Impact: Bullish or Just Business?

This move by JPMorgan could further legitimize Bitcoin ETFs and drive more institutional inflows into the crypto market. Even if reluctantly, Wall Street giants are increasingly making room for digital assets, following client demand and competitive pressure.

While Jamie Dimon’s skepticism remains firm, JPMorgan’s latest steps are undeniably bullish for the broader crypto industry. With one of the biggest banks in the world acknowledging Bitcoin in client portfolios, mainstream adoption is no longer a question of if—but when.