JPMorgan boss says bank users can soon buy Bitcoin
Summary
JPMorgan CEO Jamie Dimon announced that the bank will soon allow clients to buy Bitcoin but will not provide custody services for the cryptocurrency. Clients will have access to Bitcoin exchange-traded funds (ETFs), expanding beyond the firm's previous focus on futures-based products. Despite this move, Dimon remains skeptical of cryptocurrencies, citing concerns about their use in illegal activities. He has historically criticized Bitcoin, calling it a scam and worthless. JPMorgan's competitor, Morgan Stanley, also offers spot Bitcoin ETFs, which have seen significant adoption in the US.
