JPMorgan (JPM) to accept Bitcoin (BTC) ETF, Ibit, as collateral of the Loan to Expand access to Crypto: Bloomberg
JPMorgan Chase (JPM) plans to let clients trading and wealth management use several crypto -associated assets, including funds that have exchanged Bitcoin (ETF) exchange funds, as collateral for loans.
Starting in the coming weeks, the bank will be offered financing supported by Blackrock’s Ishhares Bitcoin Trust (IBIT) shares, Bloomberg reported on Wednesday, mentioning familiar people. For some clients, JPMorgan will also contribute crypto handling in net value and liquidity assessments – putting them in traditional security such as stocks.
Shift will come just weeks after CEO Jamie Dimon whose bank is about to Allow clients to buy Bitcoin
Scoring a well -known twist from his earlier tough bearing against digital assets. Dimon has long criticized cryptocurrencies, especially for their use in illegal activities such as sex trafficking and money laundering.
Despite those concerns, JPMorgan’s pivot features growing institutional pressure to accommodate crypto because its footprints in traditional finance deepens. Wealth management companies see a wave of client demand for exposure to digital assets. The public list of crypto companies on US stock exchanges, combined with increasing interest from investors in advance of long -sought clarity regulations, made it more difficult for banks to ignore the space.
There is also political pressure. Through US President Donald Trump back to the office, federal agencies are widely expected to alleviate crypto regulation. That puts banks that have been a historic preservation of the class of ownership in a tough place. Blocking access to crypto may look like discrimination, not cautious.
Divinity: The parts of this article were formed with the help from the AI tools and our editorial team reviewed to ensure accuracy and compliance with our standards. For more information, see CoinDesk whole You have a polycy.
