According to Bloomberg, JPMorgan Chase plans to allow its trading and wealth management clients to use crypto-pegged assets, including spot Bitcoin exchange-traded funds (ETFs) as collateral for loans.
The bank will start with BlackRock’s Ishares Bitcoin Trust (IBIT) and expects to add other ETFs over time. The policy will be applied globally, covering all customer bases, from a single retail account to investors.
In addition to changes in loans, JPMorgan will also begin holding cryptocurrencies in overall net assets and current assets appraisals and are comparable to stocks, vehicles or fine arts when determining loan eligibility.
This development marked a formal expansion that had previously been allowed on a case-by-case basis. The bank’s new approach is as other major financial institutions, including Morgan Stanley, explore ways to integrate crypto products more broadly. Last month, Bloomberg also reported that Morgan Stanley plans to bring cryptocurrency trading to its E* trading platform.
This shift also reflects changes in the U.S. regulatory environment. Since returning to office, President Donald Trump’s administration has taken a more favorable stance on digital assets. First launched in January 2024, the Spot Bitcoin ETF has grown rapidly and now manages $128 million in assets, making it one of the most successful ETF launches to date.
Bitcoin’s price has also risen significantly in recent months, reaching a record $111,980 in May 2025.
JPMorgan is one of the first major banks in the United States to experiment with blockchain technology and maintain relationships with companies such as Coinbase. This latest decision allows more digital assets to enter the bank’s loan framework.
JPMorgan CEO Jamie Dimon is openly skeptical about Bitcoin, but he has always emphasized the right of clients to acquire assets. Dimon spoke on May Investor Day and said, “I am not a fan of Bitcoin.” He continued, “I don’t think we should smoke, but I defend your right to smoke. I defend your right to buy Bitcoin and keep moving forward.”
