JPMorgan Chase is exploring plans to offer loans secured by customers’ cryptocurrency holdings, signaling a broader embrace of crypto assets by traditional financial institutions, according to the Financial Times.
FT reported on Tuesday, citing sources familiar with the matter, that the bank is weighing plans to allow clients to borrow against crypto assets such as bitcoin and ether as early as next year, though the details remain subject to change.
Jamie Dimon, chief executive of JPMorgan Chase, has consistently expressed skepticism toward bitcoin, but in May he acknowledged that the bank would facilitate client access to the cryptocurrency — though it does not plan to offer custody services.
According to the FT article, JPMorgan has already taken preliminary steps into the crypto sector, including plans to offer loans against crypto exchange-traded funds.
Jamie Dimon, chief executive of JPMorgan Chase, has repeatedly reaffirmed his negative stance on Bitcoin but acknowledged in May that the bank would work to allow clients to buy bitcoin.
The Block has reached out to JPMorgan for further comment.
The bank’s move comes amid crypto-friendly regulatory shifts in the U.S., with President Donald Trump signing the GENIUS Act, a landmark stablecoin bill, last week.
The GENIUS bill would establish a federal regulatory framework for stablecoins, requiring them to be fully backed by U.S. dollars or other highly liquid assets. It would also mandate annual audits for issuers with a market capitalization exceeding $50 billion and establish rules for issuance by foreign entities.
© 2025 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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