Summary
- Eric Trump said traditional financial institutions are expanding their acceptance of cryptocurrencies, and that the pattern of institutional participation is shifting.
- Eric Trump said JPMorgan, which once dismissed Bitcoin as a “pet rock” asset, is now offering mortgages, adding that market momentum has completely changed.
- The market is focused on the expansion of crypto businesses by major financial institutions such as Bank of America, Charles Schwab and JPMorgan, as well as future institutional service expansion and the regulatory environment as key variables.
Forecast Trend Report by Period
Eric Trump said traditional financial institutions are increasingly embracing cryptocurrencies, underscoring what he described as a shift in institutional participation.
Trump, the second son of U.S. President Donald Trump, told Consensus 2026 on May 6 that JPMorgan, which called Bitcoin a “pet rock” asset a year and a half ago, is now offering mortgages.
“The market has completely changed,” he said.
He added that major financial institutions including Bank of America, Charles Schwab and JPMorgan are entering the crypto market.
Trump also argued that JPMorgan Chief Executive Officer Jamie Dimon, a longtime critic of cryptocurrencies, has ultimately accepted the shift.
He said the crypto industry is bringing down banks that had previously refused to do business with his family.
Market participants are watching how an expansion of crypto businesses by traditional financial institutions could affect the industry’s growth. Further growth in institutional services and the regulatory environment are seen as key variables going forward.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
