Overview
- Bloomberg reports that JPMorgan aims to let institutional clients pledge BTC and ETH for loans by the end of 2025, and the bank declined to comment.
- The program is described as global in scope and would keep pledged tokens with approved third‑party custodians rather than on the bank’s balance sheet.
- The initiative builds on JPMorgan’s earlier move to accept crypto-linked ETFs, such as BlackRock’s iShares Bitcoin Trust, as loan collateral.
- The reported plan revives a 2022 effort to lend against Bitcoin that was shelved, reflecting clearer rules and rising client demand across major markets.
- The shift tracks broader Wall Street adoption, with firms like Morgan Stanley, BNY Mellon, State Street, and Fidelity expanding crypto custody, trading, and tokenization services.