JP Morgan to Offer Clients Bitcoin ETF Access as Crypto Demand Grows
JP Morgan, under the leadership of Jamie Dimon, is set to offer its clients access to Bitcoin ETFs, marking a significant shift in the bank's stance towards cryptocurrencies. This move comes amidst increasing demand and regulatory changes in the US crypto sector.
Dimon, who previously referred to Bitcoin as 'the pet rock' and expressed opposition to it, has now acknowledged the growing demand from clients. The bank will not directly custody Bitcoin but will include it in clients' statements.
The regulatory landscape has evolved, with the Office of the Comptroller of the Currency (OCC) supporting direct cryptocurrency purchases at JP Morgan. In March 2025, the OCC affirmed that national banks and savings institutions can engage in crypto and stablecoin activities under strict oversight, signaling institutional support and innovation readiness.
The repeal of accounting rule SAB 121 has also provided banks with more leeway to engage with digital assets, further facilitating this shift.
While Jamie Dimon remains skeptical about Bitcoin due to concerns about money laundering and illicit activities, JP Morgan's decision to offer clients access to Bitcoin ETFs reflects the bank's responsiveness to client demand and the evolving regulatory environment. This move signals a significant step towards mainstream acceptance of cryptocurrencies.
Read also:
- Web3 gaming platform, Pixelverse, debuts on Base and Farcaster networks
- Cannabis-Focused CTV Channel Citizen Green Launches for Global Streamers
- Goodyear in 2025: Advancement in Total Mobility through the Launch of Kmax Gen-3 by Goodyear
- Boston Metal pioneers route to commercial production for eco-friendly steel method
