Is JPMorgan Finally Embracing Crypto? You Won’t Believe What’s Next!

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  • JPMorgan to take crypto ETFs as collateral for loans – because who doesn’t love a little Bitcoin magic?
  • BlackRock’s IBIT is the boss of the market with $69B AUM, completely flipping the old-school banking mindset.

Hold onto your hats, folks, because JPMorgan Chase, the biggest bank in the U.S. (they *wish* we didn’t know that), is making moves that are definitely going to make all the crypto skeptics clutch their pearls. They’re reportedly about to let their richest clients use crypto-linked assets as collateral for loans. Yes, really. Crypto. Collateral. What a time to be alive. 🙄

JPMorgan Takes Crypto ETFs Seriously – Like, Seriously!

According to a Bloomberg report on June 4th (because if it’s not Bloomberg, did it even happen?), JPMorgan is ready to roll out this bold new offering for their high-net-worth clients. You know, the ones with more money than they know what to do with. Starting with BlackRock’s iShares Bitcoin Trust – yes, the one with over $70 billion in net assets, because why not start big?

JPMorgan *used* to dabble in crypto, like when you cautiously dip your toes in a pool of questionable water. But now? Oh no. Now, they’re diving in headfirst, and they’re bringing traditional finance along for the ride. The bank will even factor in your crypto holdings when deciding how much they’ll lend you. That’s right, your Bitcoin stash could help you get that *fabulous* loan. 🤑

But Wait, There’s More! Banks and Crypto Are BFFs Now!

As if that wasn’t enough, JPMorgan recently partnered with Circle to back their stablecoin IPO. So, yeah, they’re kind of a big deal in the crypto world now. Remember JPM Coin? Of course you do. Launched in 2020, and by 2024, they were already scooping up shares in multiple spot Bitcoin ETFs. It’s like they’ve completely had a change of heart and embraced digital assets like that one friend who suddenly “gets” yoga.

And get this: they’re even prepping to let their clients buy Bitcoin directly. Could we be seeing JPMorgan, the bank that once gave Bitcoin the side-eye, turning into one of its biggest fans? Who knew?

BlackRock’s IBIT: The New King of Bitcoin ETFs

Meanwhile, BlackRock is basically owning the Bitcoin ETF market, with its IBIT fund grabbing $69 billion in assets under management. That’s right, billion. With a B. They’re now holding a solid 78% of the market, because why just dip your toe when you can cannonball into the pool?

Since IBIT was approved in January 2024, it’s been raining money with investor interest flooding in. In fact, Farside Investors reports that IBIT has seen a ridiculous influx of 48,000 million. Can someone please tell me how many zeros are in that number? 🧐

Oh, and in case you missed it, JPMorgan’s CEO, Jamie Dimon, has already hinted that the bank will soon let clients buy Bitcoin. But don’t get too excited, he’s also making it clear that they won’t be holding onto your precious coins for you. They’ll simply list them on your statement like, “Here’s your Bitcoin, enjoy. But don’t ask us to babysit it.”

“We are going to allow you to buy it. We’re not going to custody it. We’re going to put it in statements for clients.”

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2025-06-05 16:12