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JPMorgan Plunges Deeper Into Crypto By Letting Clients Use Bitcoin ETFs As Loan Collateral

  • JPMorgan plans to let trading and wealth-management clients use certain crypto-linked assets, including Bitcoin spot ETFs, as loan collateral in the coming weeks.
  • Initially, the bank will allow financing backed by shares of BlackRock’s iShares Bitcoin Trust, treating crypto holdings like real estate and vehicles in loan assessments.
  • Despite CEO Dimon being a Bitcoin skeptic, JPMorgan is expanding its crypto offerings amid increasing institutional pressure to accommodate digital assets.
  • The bank's pivot towards crypto comes as regulatory environment warms up, with recent easing of restrictions on banks and crypto-centric businesses in the US.

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