The American banking giant JPMorgan Chase plans to allow its clients to use cryptocurrencies — like Bitcoin and Ethereum — as collateral for loans, a significant shift that could be implemented as soon as next year. (Financial Times)
🔍 What is JPMorgan doing exactly?
Currently, it accepts Bitcoin ETFs as collateral, such as BlackRock's iShares Bitcoin Trust (IBIT), for loans to trading and wealth management clients worldwide. (bitcoinmagazine.com)
Starting soon, the bank is evaluating the possibility of expanding this scheme to accept direct cryptocurrencies like Bitcoin and Ethereum as real collateral. (Financial Times, Decrypt)
Additionally, JPMorgan will begin to include its clients' crypto holdings when calculating their net worth and liquidity, equating them to stocks, cars, or art when assessing their borrowing capacity. (LinkedIn)
🧠 Why is this decision so important?
New level of institutional legitimacy
Traditionally, crypto was seen as volatile and inappropriate for credit collateral. This shift indicates that JPMorgan trusts cryptocurrencies like Bitcoin and Ethereum as usable assets in formal finance. (coincrowd.com, Financial Times)Greater access to liquidity for crypto holders
Investors will no longer have to sell their cryptocurrencies to obtain liquidity. They will be able to use them as collateral and continue to hold them. (radom.com, Decrypt)Reinforcement of the role of crypto ETFs
ETFs now count as regulated collateral; this move is an intermediary step before the full acceptance of direct cryptocurrencies. (bitcoinmagazine.com, PYMNTS.com)An exchange between innovation and regulations
Although CEO Jamie Dimon has expressed reluctance, the bank seems to be adopting a pragmatic approach: allowing clients to gain exposure to crypto without the bank directly custodian it. (businessinsider.com)
📅 What to expect next?
The initial launch could begin next year with loans backed by real cryptocurrencies. (reuters.com)
JPMorgan will likely collaborate with external custodians (like Coinbase) to avoid the bank's direct exposure to crypto risk. (Financial Times, Decrypt)
Other institutional banks, like Bank of America and Citibank, may follow this trend as Washington favors more crypto-friendly regulations. (reuters.com)
💡 Conclusion
This move by JPMorgan represents a dividing line in the convergence between traditional finance and cryptocurrencies. It is not just a new financial product: it is the validation that digital assets are entering conventional credit structures.
JPMorgan shows an evolution: from publicly criticizing Bitcoin to offering crypto-based financial products while maintaining core regulatory and security measures. For investors and institutions, the message is clear: crypto is no longer just speculation, but a developing asset class within mainstream finance.
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