Eric Trump Calls Out JPMorgan Over Bitcoin Reversal
Eric Trump attacked JPMorgan on Wednesday for reversing course on Bitcoin after years of the bank publicly criticizing the asset. Trump, co-founder of World Liberty Financial, said major institutional firms have “realized they’ve lost” to the cryptocurrency movement.
His comments follow JPMorgan’s shift toward offering clients access to Bitcoin products after CEO Jamie Dimon repeatedly called the asset a fraud.
What Trump Said
Trump’s remarks, reported by CoinDesk on May 6, targeted the bank’s changed posture on digital assets. He said JPMorgan had spent years “crapping” on Bitcoin before institutional demand forced a rethink.
Trump said the shift proved that established financial players had failed in their effort to sideline cryptocurrency.
Also Read: Bitcoin Spot ETFs Pull in $496 Million in a Single Day as Institutional Demand Holds Firm
Background
JPMorgan’s relationship with Bitcoin has been openly hostile for most of the past decade. Dimon called Bitcoin a “fraud” in 2017 and threatened to fire any trader caught holding it.
The bank softened that stance gradually as institutional demand grew, ultimately offering clients exposure to Bitcoin ETFs in 2024. Dimon has since said he personally dislikes Bitcoin but respects clients’ right to own it.
Trump’s family has leaned into the cryptocurrency sector through World Liberty Financial, a decentralized finance project launched in late 2024 with backing tied to the Trump organization.
Also Read: Morgan Stanley Plans Cryptocurrency Trading on E\*Trade as Wall Street Deepens Digital Asset Push
What This Means for Wall Street
The exchange underscores a broader shift that has played out across major US banks in 2025 and 2026. Morgan Stanley confirmed plans to offer spot cryptocurrency trading through its E*Trade platform, a move that Nonce covered in the prior hour.
Goldman Sachs and Citigroup have each expanded digital asset desks. The posture change reflects sustained inflows into spot Bitcoin ETFs, which pulled in $496 million in a single day as recently as this week.
Trump’s public commentary adds political dimension to what was already a major structural realignment in US finance.
Outlook
JPMorgan has not responded publicly to Trump’s remarks as of Wednesday evening. The bank’s trajectory on Bitcoin is unlikely to reverse, given client demand and the regulatory clarity emerging under the current administration.
Trump’s involvement in decentralized finance through World Liberty Financial means his commentary on Wall Street’s cryptocurrency posture carries both political and commercial weight. Investors watching the institutional adoption cycle will note that the loudest critics have now become participants.
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