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JPMorgan launches loans with Bitcoin and Ethereum by the end of the year!
JPMorgan plans Bitcoin and Ethereum-backed loans for institutional clients by the end of 2025, a sign of growing crypto interest.
JPMorgan launches loans with Bitcoin and Ethereum by the end of the year!
JPMorgan Chase is poised to offer loans backed by Bitcoin (BTC) and Ethereum (ETH) by the end of the year. This will primarily be aimed at institutional clients. The bank reportedly plans to accept Bitcoin and Ethereum as collateral to add additional value to these new loans. A third party should be appointed as custodian for the collateral. This is a significant step in the financial world as banks increasingly integrate digital assets into their services.
JPMorgan's initiative comes amid growing interest in cryptocurrencies. In June 2023, the bank began accepting crypto ETFs as collateral for loans, initially on a limited basis for BlackRock customers. When valuing assets, crypto ETF holdings are viewed as net assets and liquid assets. These developments show that Wall Street is increasingly interested in the crypto industry, especially since the approval of Bitcoin ETFs in January 2024.
Growth of crypto ETFs
The launch of Bitcoin ETFs has triggered a striking financial movement. In less than two years, BTC spot ETFs have accumulated nearly $62 billion in net inflows and $149 billion in net assets. Ethereum spot ETFs have seen the most growth this year, with average inflows of $14.45 billion and total assets of $26 billion. There are currently nine ETFs active in the United States.
JPMorgan's strategy reflects the changing approach of the traditional financial sector as it begins to integrate digital assets. Historically, CEO Jamie Dimon has called Bitcoin an “overhyped scam,” but recently he has softened his stance on cryptocurrencies. Dimon emphasized that he defends the rights of customers to buy Bitcoin. The bank is therefore showing growing interest in this area.
Future plans
In addition to the credit offerings mentioned, JPMorgan plans to provide its customers with access to Bitcoin and Ethereum via the E*Trade platform in 2026. This is likely to further strengthen JPMorgan's position in the crypto market and increase its reach to institutional and retail investors.
The developments surrounding Bitcoin and Ethereum could not only change the relationship between financial institutions and digital assets, but also influence the entire climate of the cryptocurrency markets.
Further information is provided on this FXStreet.