JPMORGAN CHASE (JPM) plans to let heritage trade and management customers use certain assets linked to cryptographic, including stock -listed funds (ETF) Spot Bitcoin, as a guarantee of loans.
As of the next few weeks, the bank will offer financing supported by shares of Ishares Bitcoin Trust de Blackrock (Ibit), Bloomberg reported Wednesday, citing familiar people. For some customers, JPMorgan will also take into account cryptography holdings in net and liquidity assets, which puts them along with traditional values as actions.
The turn occurs only weeks after CEO Jamie Dimon said the bank would soon allow customers to buy Bitcoin
Marks a notable change of its previous hard position against digital assets. Dimon has long criticized cryptocurrencies, particularly because of its use in illegal activities such as sex trafficking and money laundering.
Despite these concerns, the JPMorgan pivot highlights the growing institutional pressure to accommodate cryptography as its footprint in traditional finances deepens. Heritage management companies are seeing a demand wave of exposure customers to digital assets. The public list of cryptographic companies in the US stock exchanges, combined with the growing interest of investors before regulatory clarity for a long time, has made it difficult for banks to ignore space.
There is also political pressure. With the president of the United States, Donald Trump, in office, is widely expected that federal agencies relieve cryptographic regulation. That puts banks that historically have been distrustful of the asset class in a difficult place. Blocking access to cryptography could now seem discrimination, not caution.
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