JPMorgan Chase & Co., the largest U.S. bank, has announced it will allow its trading and wealth-management clients to use certain cryptocurrency-backed assets as collateral for loans.
Starting with BlackRock’s iShares Bitcoin Trust (IBIT), a leading Bitcoin exchange-traded fund (ETF), JPMorgan plans to expand this offering to include additional crypto-linked ETFs over time. This policy formalizes what had previously been handled on a limited, case-by-case basis and applies globally to all client types, from individual retail investors to major institutional traders.
Beyond loan collateral, JPMorgan will also begin factoring cryptocurrency holdings into clients’ overall net worth and liquid asset calculations. The bank will treat these digital assets similarly to traditional assets like stocks, luxury vehicles, or fine art when assessing loan eligibility.
Since the introduction of spot Bitcoin ETFs in January 2024, the market has seen remarkable growth. These funds now manage a combined $128 billion in assets, marking one of the most successful ETF launches in history. Bitcoin itself reached an all-time high of $111,980 in May 2025, highlighting strong institutional demand.
While JPMorgan continues to embrace blockchain technology and digital assets, CEO Jamie Dimon remains publicly cautious about Bitcoin. At the bank’s recent investor day, Dimon stated, “I’m not a fan of Bitcoin,” but emphasized client choice: “I defend your right to buy Bitcoin, go at it.”
In related news, JPMorgan is seeking a merchant banking license from the Central Bank of Nigeria to convert its Lagos representative office into a fully operational branch. This move will allow the bank to expand its services in Nigeria, including offering dollar-denominated loans tailored for large corporations. Managed by Dayo Olagunju, head of West Africa, this expansion signals JPMorgan’s commitment to strengthening its presence in the African market.
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