The decision applies globally across both retail and institutional segments and reflects the bank’s growing acceptance of regulated crypto exposure in mainstream finance. Clients’ holdings in crypto ETFs will now count toward net worth and liquidity calculations, placing them alongside stocks and real estate in eligibility assessments. The move expands on JPMorgan’s prior case-by-case approach and follows similar digital asset initiatives from other banks, including Morgan Stanley. The change comes amid a broader shift in regulatory tone under the current administration. Spot bitcoin ETFs — approved in January 2024 — now collectively manage over $128 billion in assets, making them among the most successful ETF launches in U.S. history. Dimon said: “I don’t think we should smoke, but I defend your right to smoke. I defend your right to buy bitcoin. Go at it.”