JPMorgan Chase & Co., the largest U.S. bank, is rolling out plans to lend to its customers by accepting exchange-traded funds (ETFs) tied to cryptocurrencies as collateral.
The move is seen as one of the biggest moves from Wall Street since President Donald Trump pledged to support loosening regulations on the crypto sector.
JPMorgan will begin providing financing in the coming weeks against some crypto ETFs, starting with BlackRockโs iShares Bitcoin Trust, according to people familiar with the matter. The bank will also factor in its asset management clientsโ crypto holdings in its total net worth and liquid assets calculations. The change would see cryptocurrencies treated similarly to asset classes such as stocks, cars or works of art.
