Jamie Dimon in 2017: "Bitcoin is a fraud... worse than tulip bulbs. It won't end well. Someone is going to get killed."

Today in 2026: JPMorgan accepting Bitcoin as collateral, accepting it as proof of funds, spot trading, and Dimon himself saying "Bitcoin is real. It will be used by all of us."

From "fraud" to full institutional rails.

The pivot of the decade happening now.

• JPMorgan Chase explores Bitcoin and crypto trading for institutional investors, accepts BTC and ETH as collateral via ETFs with planned expansion to spot trading, and Jamie Dimon admitted that Bitcoin is real and that he was wrong before.
• Bank of America releases more than 15,000 wealth advisors to recommend allocations in Bitcoin ETFs (typically 1-4%) with coverage from products such as BlackRock, Fidelity, Grayscale, and Bitwise. CEO commenting on the potential inflow of $6 trillion to stablecoins if the Clarity Act passes with initial content; if this happens, what percentage will go to spot BTC?
• Wells Fargo offers Bitcoin-backed loans to institutional clients with access to ETFs and credit against BTC as collateral.
• Goldman Sachs reveals a position of approximately $1.1-$1.6 billion in Bitcoin ETFs via filings, and CEO David Solomon confirmed he has a small personal position in BTC.
• Citigroup launches institutional Bitcoin custody infrastructure with institutional-grade wallet and key management to integrate BTC into trading later this year.
• Morgan Stanley builds in-house Bitcoin custody and trading, yield products, lending, digital wallet, proprietary ETF plans for BTC/SOL/ETH, early access to wealth accounts, and E*Trade direct spot trading.
• PNC Bank rolls direct Bitcoin spot trading to private banking via Coinbase infrastructure with integrated custody.
• US Bank resumes and expands institutional Bitcoin custody with ETF offerings through partnerships.
• Charles Schwab plans Bitcoin and Ethereum spot trading in the first half of 2026 on self-directed platforms.
• Standard Chartered launches dedicated prime brokerage accounts for institutional-focused Bitcoin trading. UBS offers Bitcoin trading to select private banking clients in the US and globally.
• BNY Mellon has provided active custody of Bitcoin and Ethereum for years to select clients with tokenized deposits and on-chain safekeeping.
• State Street plans regulated digital custody by 2026 with tokenization services including tokenized funds in partnerships like Solana.
• SoFi Bank becomes the first chartered bank in the US to offer direct trading of digital assets including Bitcoin from client accounts.
• BlackRock dominates billion-dollar inflows into ETFs with IBIT as the absolute monster and BUIDL tokenized Treasury expanding into DeFi.
• Fidelity has maintained custody since 2018 with strong ETFs and recommends direct allocations for clients. In addition to direct involvement in BTC mining.
• Vanguard evaluates the inclusion of Bitcoin ETFs in 401k plans and recommends moderate allocations for diversification.
• Anchorage Digital acts as the first federal crypto bank with safekeeping, settlement, staking, and governance for institutions. Jane Street, the villainous AP for major Bitcoin ETFs (such as BlackRock's IBIT), facilitates creations/redemptions and accumulates positions in MicroStrategy as a leveraged proxy for BTC.

The biggest players on the planet, with trillions under management, are building complete rails for Bitcoin to become collateral, yield, trading, and the standard reserve. From "fraud" to mainstream in less than a decade.

Remember, Bitcoin is a digital-native asset and extremely transparent; we'll easily see who's swimming without a swimsuit via on-chain data.