JPMorgan, the largest bank in the United States by assets, plans to offer trading and wealth-management clients the option of using crypto-linked assets as collateral for loans, according to a June 4 report from Bloomberg.
The bank is set to allow financing against crypto exchange-traded funds (ETFs) in some weeks. JPMorgan will begin with BlackRock’s iShares Bitcoin Trust, which, according to Sosovalue.com, is the largest US spot Bitcoin (BTC) ETF with $70.1 billion in net assets.
The bank will also consider clients’ crypto holdings when assessing net worth, treating digital assets similarly to traditional ones when determining how much a client can borrow against assets.
JPMorgan is among US banks betting on crypto initiatives for some of its clients. In 2020, it launched JPM Coin, a dollar-pegged stablecoin and in 2024, the bank reported holding shares of different spot Bitcoin ETFs.
JPMorgan CEO Jamie Dimon in May said that the bank would soon allow clients to purchase Bitcoin. Dimon also reiterated his skepticism about the asset class, stating, comparing investing in BTC to smoking:
“I don’t think you should smoke, but I defend your right to smoke. I defend your right to buy Bitcoin.”
Related: Coinbase considering applying for US banking license
Trump administration eases regulations on banks in crypto
US President Donald Trump has been loosening restrictions on banks and digital assets businesses. In April 2025, the Federal Reserve withdrew guidance that discouraged banks from engaging in crypto and stablecoin activities. In May, the US Office of the Comptroller confirmed that banks can now handle the crypto assets of customers held in custody. That same month, The Wall Street Journal reported that US banks were holding early talks to launch a crypto stablecoin.
The Trump administration has also announced the creation of a strategic Bitcoin reserve and digital asset stockpile, and is encouraging the passing of stablecoin legislation in the Senate.
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