JPMorgan Plunges Deeper Into Crypto By Letting Clients Use Bitcoin ETFs As Loan Collateral ⋆ ZyCrypto
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JPMorgan, America’s biggest bank by total assets, is set to let its trading and wealth-management clients use certain crypto-linked assets, including spot Bitcoin exchange-traded funds (ETFs), as loan collateral in the coming weeks, as the United States regulatory environment warms to digital assets.
According to a June 4 report from Bloomberg citing unnamed sources familiar with the matter, the banking giant will start by allowing financing backed by shares of BlackRock’s iShares Bitcoin Trust, currently the largest US spot Bitcoin ETF with over $70 billion in assets under management.
JPMorgan will reportedly consider clients’ crypto holdings when assessing their…
