Crypto News: JPMorgan to Expand Loan Options with Bitcoin ETFs 💰
JPMorgan Chase, the largest bank in the United States by assets, is set to enable clients to use Bitcoin exchange-traded funds (ETFs) as collateral for loans. This move, initially reported by Bloomberg, represents a significant step in how traditional banks are starting to incorporate digital assets into their credit evaluation processes.
The decision to accept Bitcoin ETFs as loan collateral highlights the growing adoption of cryptocurrency in mainstream financial systems. With approximately $3.9 trillion in assets under management, JPMorgan's involvement reflects a notable shift towards digital finance.
BlackRock’s iShares Bitcoin Trust is among the ETFs that could potentially be utilized by clients for such loan schemes.
Source: www.thecoinrepublic.com ↗
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