JPMorgan Chase will allow institutional clients to use their Bitcoin and Ethereum holdings as collateral for loans, Bloomberg reported, citing sources familiar with the plan. The program is expected to roll out by the end of 2025 and will operate globally.
The pledged digital assets will be stored with a third-party custodian, whose name has not yet been disclosed. JPMorgan already accepts cryptocurrency ETFs as collateral, and industry observers say this move is a natural evolution of the bank’s digital-asset strategy. The institution has not issued an official comment on the upcoming launch.
A Symbolic Shift on Wall Street
The step is being described as both symbolic and practical for JPMorgan. CEO Jamie Dimon, once a vocal Bitcoin critic who dismissed it as a “PR scam” increasingly acknowledges the asset class as something institutional clients now demand.
Morgan Stanley is preparing to offer cryptocurrency access to E*Trade users, while Fidelity, State Street, and BNY Mellon have already launched digital-asset custody services for institutional investors. Analysts say the trend reflects a shift from skepticism to structured adoption across global finance.
How Other Major Banks Are Implementing Crypto Strategies
While JPMorgan moves into crypto-backed lending, other global institutions are expanding in parallel directions. Goldman Sachs has restarted its crypto trading desk and is exploring tokenization initiatives for institutional products.
Deutsche Bank is developing regulated custody services for digital assets in Europe, aiming to support both private funds and corporations. Meanwhile, HSBC and UBS are focusing on blockchain-based settlement solutions rather than direct crypto exposure, signaling that every bank is choosing its own lane — but all are moving in the same overall direction.
Together, these efforts show that crypto is no longer an experiment on the sidelines. Instead, it is becoming a competitive requirement for major banks, especially as institutional clients demand secure, regulated ways to interact with digital assets.
