JPMorgan Plans to Allow Financing Against Crypto ETFs: Report
JPMorgan, the largest bank in the United States by assets, plans to offer trading and wealth-management clients the option of using crypto-linked assets as collateral for loans, according to a June 4 report from Bloomberg.
The bank is set to allow financing against crypto exchange-traded funds (ETFs) in some weeks. JPMorgan will begin with BlackRock’s iShares Bitcoin Trust, which, according to Sosovalue.com, is the largest US spot Bitcoin (BTC) ETF with $70.1 billion in net assets.
The bank will also consider clients’ crypto holdings when assessing net worth, treating digital assets similarly to traditional ones when determining how much a client can borrow against…
