JPMorgan to Offer Bitcoin to its Clients

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JPMorgan Chase has decided to allow clients to buy Bitcoin, although CEO Jamie Dimon remains wary of the cryptocurrency.

During the bank’s annual investor day, Dimon stated:

“We are going to allow you to buy it. We’re not going to custody it. We’re going to put it in statements for clients.”

This is a significant move for the largest US bank, considering Dimon’s history of critiquing digital currencies. It signals Bitcoin’s growing presence in mainstream finance, following Morgan Stanley’s earlier decision to allow its advisors to offer qualifying clients Bitcoin ETFs.

Despite the move, Dimon maintains his skepticism, pointing to concerns like money laundering and ownership issues, as well as associations with illicit activities.

“I don’t think you should smoke, but I defend your right to smoke,” Dimon commented, likening this to Bitcoin purchases.

The bank is reportedly exploring offering Bitcoin ETFs but has so far limited direct crypto interaction to futures-focused products.