😎 JPMorgan Accepts Bitcoin ETF as Collateral for Loans
JPMorgan is preparing to allow customers to use the spot Bitcoin ETF, such as BlackRock's iShares Bitcoin Trust, as collateral for borrowing. This is the first step in the plan to integrate crypto assets into the bank's net asset value and liquidity assessment system.
This move marks a turning point in JPMorgan's approach to crypto, despite CEO Jamie Dimon having criticized Bitcoin multiple times in the past. Recently, Mr. Dimon affirmed that although he does not believe in Bitcoin, he still supports customers' rights to own it.
JPMorgan has long been involved in the cryptocurrency market, having launched the JPM Coin stablecoin in 2020 and currently holding stakes in several spot Bitcoin ETF funds.
