JPMorgan plans to offer financing services for encryption ETFs and is considering accepting encryption assets as loan collateral.

According to Bloomberg, citing people familiar with the matter, JPMorgan Chase is planning to expand its crypto-related services and will allow customers to use crypto assets as collateral for loans, which are applicable to some spot bitcoin ETFs, including BlackRock's iShares Bitcoin Trust (IBIT). According to the report, JPMorgan Chase & Co. will also include crypto assets held by wealth management clients in the calculation of their total net assets and liquid assets to assess the amount of borrowing. Previously, such financing arrangements were only available on a case-by-case basis. This marks an acceleration in the rollout of crypto products to trading and wealth management clients as the regulatory environment in the U.S. gradually warms. Notably, the bank's CEO, Jamie Dimon, made it clear last month, while still holding reservations about crypto assets, that customers would be allowed to buy Bitcoin, although the bank would not hold custody of these assets. In addition, JPMorgan Chase is also helping other crypto companies expand their businesses. In May, stablecoin issuer Circle hired JPMorgan Chase to help with its initial public offering (IPO). BlackRock's IBIT is currently the world's largest spot bitcoin ETF, with $69 billion in assets under management, accounting for about 78% of the spot bitcoin ETF market. （TheBlock）