JPMorgan Chase is exploring a coverage to lend immediately towards purchasers’ Bitcoin and crypto holdings, according to the Financial Times. This may mark the primary time the biggest U.S. financial institution has accepted digital belongings themselves—not ETFs—as collateral for loans.
Previously, CEO Jamie Dimon’s previous remarks have alluded to the truth that he doesn’t assist Bitcoin or crypto. Extra just lately, nevertheless, his tone has softened. “I don’t suppose it’s best to smoke, however I defend your proper to smoke. I defend your proper to purchase Bitcoin. Go at it,” Dimon said in May.
JPMorgan declined to touch upon the plans, which may launch as early as 2026. Any finalized program would require the financial institution to deal with technical challenges—resembling tips on how to deal with crypto seized from defaulted loans—and would possible contain a third-party custodian to carry the digital belongings, since JPMorgan doesn’t custody Bitcoin and crypto by itself stability sheet.
In Could 2025, Dimon reiterated his skepticism at JPMorgan’s annual Investor Day, stating, “I’m not a fan of Bitcoin.” Nevertheless, he confirmed the financial institution would proceed providing purchasers entry to Bitcoin investments—even when JPMorgan itself wouldn’t maintain the belongings. That very same month, the financial institution’s analysts issued a report forecasting that bitcoin would proceed outperforming gold, citing rising company demand and growing curiosity from U.S. states constructing Bitcoin reserves.
In June 2025, JPMorgan expanded its Bitcoin and crypto lending framework to permit purchasers to make use of Bitcoin ETFs—together with BlackRock’s iShares Bitcoin Belief (IBIT)—as collateral for loans. The financial institution additionally started factoring Bitcoin and crypto holdings into purchasers’ internet value evaluations, inserting them on par with conventional belongings like shares and actual property.
This growth of Bitcoin and crypto secured lending is only one of many main monetary establishments to work together extra immediately with digital belongings, particularly throughout altering regulatory winds in Washington. The second Trump administration has taken a more favorable approach towards Bitcoin, encouraging giant banks to broaden their digital asset choices.