- 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…
