JPMorgan Chase, the most important U.S. financial institution with over $3 trillion in property, will permit purchasers to purchase Bitcoin, in line with CEO Jamie Dimon. Talking on the financial institution’s annual investor day, Dimon said, “I defend your right to buy Bitcoin. Go at it,” whereas sustaining his private skepticism and referencing Bitcoin’s use in illicit actions and lack of intrinsic worth.
JPMorgan won’t custody Bitcoin for purchasers however will embody Bitcoin holdings on shopper statements. The financial institution’s transfer follows related actions by Morgan Stanley and Goldman Sachs, which have begun providing entry to identify Bitcoin exchange-traded funds (ETFs) to purchasers after the SEC permitted such merchandise in January 2024.
Bitcoin is presently buying and selling at round $105,300, close to its all-time excessive. The announcement comes because the Trump administration has rolled again anti-crypto steering and accounting guidelines, enabling banks to increase crypto-related providers.
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