🎉 USA 🇺🇸: JPMorgan will allow clients to buy Bitcoin

🎉 USA 🇺🇸: JPMorgan will allow clients to buy Bitcoin

Despite growing institutional interest and the pro-crypto stance of some political figures, U.S. banks still operate under Federal Reserve restrictions and cannot directly partner with crypto firms.

🔣 Within this framework, JPMorgan will now allow clients to buy Bitcoin, though the bank will not offer crypto custody. Purchases will simply be reflected on the client’s account statement.

🔣 Until now, JPMorgan only offered Bitcoin-linked futures products. CEO Jamie Dimon has been vocally skeptical of crypto over the years.

🔣 The decision is partly driven by the success of the spot Bitcoin ETF, which has seen nearly $42 billion in cumulative inflows since its launch in January 2024. In recent weeks, ETFs have been buying BTC at a rate six times higher than miner production.

🔣 Additional context: Since August, Morgan Stanley has allowed its financial advisors to offer certain spot Bitcoin ETFs to eligible clients — intensifying competition in this market segment.

#news #USA

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