JPMorgan Chase to accept cryptocurrency ETFs as loan collateral
06-04 19:42
Odaily News JPMorgan Chase is preparing to accept cryptocurrency-related assets as collateral for loans, including Bitcoin exchange-traded funds. The bank will first provide financing services for cryptocurrency ETFs, with the first batch involving BlackRock's iShares Bitcoin Trust. The move marks a major expansion of JPMorgan Chase's cryptocurrency-related business and comes at a time when the overall regulatory environment is loosening under the new US government. Previously, JPMorgan Chase accepted such collateral only on a limited case-by-case basis. But under the new plan, cryptocurrency ETFs will be treated more closely like traditional assets (such as stocks or real estate) when assessing customers' borrowing capacity. The report also pointed out that the plan, which is expected to be launched in the coming weeks, may include more cryptocurrency investment products. (Jinshi)
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