JPMorgan Chase, the largest U.S. bank by assets, is preparing to allow certain trading and wealth management clients to use cryptocurrency-related assets as collateral for loans, Bloomberg reported on June 4.
In the coming weeks, the bank will begin accepting crypto exchange-traded funds (ETFs) as security for financing. It will start by supporting BlackRock’s iShares Bitcoin Trust — currently the biggest U.S. spot Bitcoin ETF with $70.1 billion in assets, according to Sosovalue.com.
As part of the move, JPMorgan will also begin including clients’ digital asset holdings when evaluating their net worth, putting crypto on a more equal footing with traditional assets when calculating how much they can borrow.
This step marks another signal of JPMorgan’s growing involvement in digital assets. Back in 2020, the bank introduced JPM Coin, its own U.S. dollar-backed stablecoin. More recently, in 2024, JPMorgan disclosed holdings in several spot Bitcoin ETFs.
Despite CEO Jamie Dimon’s long-standing criticism of Bitcoin, he acknowledged in May that the bank will soon allow clients to buy the cryptocurrency. He likened BTC investment to smoking, saying:
“I don’t think you should smoke, but I defend your right to smoke. I defend your right to buy Bitcoin.”
Trump Administration Eases Crypto Regulations for Banks
Under President Donald Trump, the U.S. has been relaxing rules surrounding banking and digital assets. In April 2025, the Federal Reserve rescinded previous guidelines that discouraged banks from participating in crypto or stablecoin activities.
By May, the Office of the Comptroller of the Currency confirmed that banks are now permitted to hold customers’ crypto in custody. Around the same time, The Wall Street Journal revealed that several major banks had entered preliminary talks to launch a stablecoin initiative.
In addition, the Trump administration announced plans to establish a strategic Bitcoin reserve and a national stockpile of digital assets. It is also actively pushing for stablecoin-focused legislation to be passed in the U.S. Senate.
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