JPMorgan Chase Plan Allows Customers to Use Bitcoin ETF as Loan Collateral

BlockBeats News, June 4th, according to Bloomberg, Wall Street giant JPMorgan Chase plans to allow its clients to use cryptocurrency ETF stocks such as the Bitwise Bitcoin Trust from BlackRock's iShares as loan collateral.

Sources familiar with the matter told Bloomberg that the bank will also start taking cryptocurrency holdings into account when evaluating client net worth and liquid assets. This means that cryptocurrency will be treated equally with real estate and automobiles when assessing clients' loan repayment ability.