JPMorgan Chase plans to provide crypto ETF financing services and consider accepting crypto assets as loan collateral

Odaily Planet Daily News According to Bloomberg, citing people familiar with the matter, JPMorgan Chase is planning to expand its crypto-related services and will allow customers to use crypto assets as loan collateral, which is applicable to some spot Bitcoin ETFs including BlackRock's iShares Bitcoin Trust (IBIT). According to reports, JPMorgan Chase will also include crypto assets held by wealth management clients in its total net assets and liquid assets calculations to assess the amount of borrowing. Previously, such financing arrangements were only available in individual cases. This indicates that as the US regulatory environment gradually warms up, JPMorgan Chase is accelerating the launch of crypto products to trading and wealth management clients. It is worth noting that although the bank's CEO Jamie Dimon still has reservations about crypto assets last month, he has made it clear that customers will be allowed to buy Bitcoin, although the bank will not custody these assets. In addition, JPMorgan Chase is also helping other crypto companies expand their businesses. In May of this year, stablecoin issuer Circle hired JPMorgan Chase to assist it in promoting its initial public offering (IPO). BlackRock's IBIT is currently the world's largest spot Bitcoin ETF, with assets under management of $69 billion, accounting for about 78% of the spot Bitcoin ETF market. (TheBlock)