What to know:
- JPMorgan is finally jumping on the crypto bandwagon—accepting shares of BlackRock’s iShares Bitcoin Trust (IBIT) as collateral for loans. Yes, really. 🚀
- The bank will now peek at some clients’ crypto holdings when figuring out their net worth—because apparently, crypto is just like stocks now.
- With politicians and investors throwing a fit, JPMorgan and its banking buddies are scrambling to make crypto a “respectable” part of their portfolios.
Breaking news! JPMorgan Chase (JPM) is rolling out the red carpet for crypto enthusiasts by letting clients use digital assets, including spot bitcoin ETFs, as loan collateral. Because what’s more reassuring than a bank trusting your crypto stash, right? 🧐
In just a few weeks, sources say, the bank will start offering financing backed by BlackRock’s iShares Bitcoin Trust (IBIT). Think of it as that shiny new ‘trust’ that makes crypto feel a bit more… *bankable*. Some clients will even have their net worth calculated with their crypto holdings—because everyone loves a little digital asset credit check. 💻💰
This sudden love affair comes shortly after Jamie Dimon, the CEO with the most iconic banker eyebrows, casually hinted that clients might be able to buy bitcoin soon. Sure, a few weeks ago he was calling cryptocurrencies “fraud”. But who’s counting? Now he’s all for crypto—and, allegedly, so is his bank. Perhaps he’s just having a midlife crisis? 🤷♂️
Despite being the crypto Grinch of yore, JPMorgan’s doing a quick 180, thanks to the holy grail of rising client demand and the growing presence of crypto firms listing on U.S. exchanges. Apparently, ignoring digital assets is so last decade. Meanwhile, politicians—back with a vengeance—might make regulations more… let’s say, “friendly,” especially with Trump potentially back in the Oval Office. Banks are basically stuck between a rock and a blockchain. 🚧
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2025-06-04 23:05