JPMorgan’s Big Crypto Move: Loans Backed by Bitcoin ETFs, What Could Go Wrong?

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Oh, look at this! JPMorgan Chase, the bank that everyone loves to love, has decided to dive even deeper into the world of crypto. Because why not, right? I mean, who wouldn’t trust a bank that’s been around for like, forever, to deal with Bitcoin ETFs as collateral? It’s not like the whole crypto thing is still a little… unpredictable? Bitcoin But hey, whatever. They’re rolling out this new service, so some lucky clients can borrow money with crypto-based exchange-traded funds (ETFs) as their shiny new collateral. Woohoo! According to a Bloomberg report on Wednesday, this is happening. Just… try not to trip over the sarcasm.

Now, get this: JPMorgan is going to kick things off with BlackRock’s IBIT. Because if you’re going to do this, you might as well back it with the most successful ETF, right? It’s like saying, “Hey, we’re going all in, but we’re going to pick the one with the biggest stack.” BlackRock ETF So yeah, that’s happening.

But wait, until now, JPMorgan would only allow these loans on a “case-by-case” basis, which sounds like a fancy way of saying “we were too cautious, but now, sure, let’s do it all the time.” They’re expanding this thing, apparently. Feels a little like watching someone who’s been super anti-Bitcoin suddenly start liking it because, you know, money talks, and it says “We need to get with the times.”

And speaking of irony, let’s not forget Jamie Dimon, JPMorgan’s CEO. This guy has been vocal about his utter distaste for Bitcoin—yeah, he’s that guy who thinks crypto is basically just a fad. But, here’s the kicker: he’s going to let his clients buy Bitcoin anyway. Oh, the sweet sound of “I told you so,” right?

Also, in a Q1 13F filing, JPMorgan casually mentioned it had some exposure to Bitcoin ETFs. Because when you’re a massive bank, it’s probably just a small detail, right? Nothing to worry about. JPMorgan

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2025-06-04 19:10