NEW YORK — JPMorgan Chase & Co. has authorized its institutional clients worldwide to use Bitcoin (BTC) and Ether (ETH) holdings as loan collateral, Bloomberg reported in October 2025.
The program relies on third-party custodians — including Fidelity Digital Assets and Coinbase Custody — to safeguard pledged assets. Previously JPMorgan only accepted crypto ETFs as collateral; the shift to direct spot holdings is a significant qualitative leap.
The bank's Kinexys network, which processes more than $2 billion in daily transactions, provides the infrastructure backbone for the new program. Analysts estimate the program could unlock more than $50 billion in new lending capacity in its first year.
