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JPMorgan Chase is set to allow institutional clients to use Bitcoin and Ether as collateral for loans by the end of the year, according to Bloomberg. The program will rely on a third-party custodian to secure digital assets and will be available to clients worldwide, signaling a major step by the U.S. banking giant toward crypto integration.
Earlier reports reveal that JPMorgan will also permit clients to use crypto-related ETFs, including BlackRock’s iShares Bitcoin Trust, as loan collateral. The initiative aims to expand borrowing options and include crypto assets in clients’ wealth-management assessments, reflecting growing institutional acceptance of digital currencies.
CEO Jamie Dimon, once a fierce Bitcoin critic, has softened his stance. Although he maintains skepticism about crypto’s intrinsic value, the bank’s move contrasts sharply with his 2017 declaration that Bitcoin was a “fraud.” The shift underscores Wall Street’s evolving view of digital assets as legitimate financial instruments.
