In a surprising shift, JPMorgan Chase has announced it will begin offering Bitcoin access to its private banking clients, despite CEO Jamie Dimon’s long-standing skepticism toward cryptocurrencies. The move reflects the growing pressure on traditional banks to meet demand for digital asset exposure.
According to the New York Post, clients will not store Bitcoin directly with JPMorgan, but their BTC holdings will now appear on official account statements, giving the assets a new level of legitimacy in institutional portfolios.
Dimon, who previously called Bitcoin a “fraud” in 2017, said in a recent earnings call that “clients want access to this asset class, and we are responding to that demand in a secure and transparent way.” The bank itself will not act as custodian, instead partnering with regulated third parties.
The change aligns JPMorgan with competitors such as Fidelity, Goldman Sachs, and BlackRock, which have already expanded their crypto offerings. Analysts believe this signals a new phase of mainstream financial integration for Bitcoin.
