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JPMorgan is set to allow its trading and wealth clients to use crypto ETFs as collateral for loans marking a major step into the digital asset space. The move will start with BlackRock’s iShares Bitcoin Trust which now manages over 70 billion dollars in assets.
This marks a strategic shift by the banking giant as it begins recognizing crypto-related assets in the same category as traditional ones like stocks or art. Clients will be able to borrow against these ETFs similar to how they leverage other holdings. The bank will also begin factoring crypto into wealth evaluations for loan approvals.
Despite CEO Jamie Dimon’s long-standing skepticism about Bitcoin the bank is moving quickly to capture opportunities in the fast-growing crypto space. The offering will be available to all global wealth clients from retail investors to ultra-wealthy individuals showing JPMorgan is no longer ignoring the rising demand for digital asset integration in traditional finance.
