Bitcoin on a stack of coins with JPMorgan logo on a laptop screen. Source: 24K-Production - stock.adobe.com

Key Takeaways:

JPMorgan will allow clients to use crypto ETFs, starting with BlackRock’s iShares Bitcoin Trust, as collateral for loans.
Crypto assets will be included in net worth calculations, potentially increasing borrowing capacity for clients.
The move is part of JPMorgan’s gradual embrace of crypto, despite CEO Jamie Dimon’s ongoing skepticism.

JPMorgan, the largest U.S. bank by assets, is set to allow its trading and wealth-management clients to use crypto-related assets as collateral for loans.

The initiative will begin with BlackRock’s iShares Bitcoin Trust, the largest U.S. spot Bitcoin ETF, which holds $70.1 billion in assets.

JUST IN: $3.6 trillion asset manager JPMorgan to accept Bitcoin & crypto ETFs as collateral for loans. pic.twitter.com/znmDyJvyVG
— Watcher.Guru (@WatcherGuru) June 4, 2025

Additionally, JPMorgan will factor in clients’ crypto holdings when calculating net worth, treating them similarly to traditional assets.

This could potentially raise borrowing limits for some clients.

This marks a significant step in the bank’s gradual embrace of crypto.

JPMorgan previously launched its own stablecoin, JPM Coin, in 2020, and by 2024 had revealed holdings in several spot Bitcoin ETFs.

Despite expanding crypto services, CEO Jamie Dimon remains skeptical.

In May, he stated that clients would soon be able to buy Bitcoin through the bank but reiterated personal doubts, saying: “I don’t think you should smoke, but I defend your right to smoke.”

He added, “I defend your right to buy Bitcoin.”

The move underscores a growing institutional acceptance of digital assets, especially as loan collateral, even amid executive caution and regulatory uncertainty.