JPMorgan taps into $125 billion Bitcoin ETFs for crypto loans – DL News

  • JPMorgan will let clients use BlackRock’s Bitcoin ETF as collateral.
  • Crypto holdings will also be factored into net worth calculations.
  • The move comes amid a regulatory thaw.

JPMorgan Chase & Co. is opening its doors to crypto in a way it has never done before.

The $3.7 trillion bank will soon let clients use shares of Bitcoin ETFs as collateral for loans, starting with BlackRock’s IBIT, according to Bloomberg. The New York-based bank will also factor in crypto holdings into net-worth calculations.

Previously, the bank reviewed this type of financing on a case-by-case basis.

It shouldn’t come as a surprise that BlackRock’s Bitcoin ETF will be the first of its kind to be used as collateral for loans from JPMorgan.

The fund commands more…

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