Watch CNBC's full interview with JPMorgan CEO Jamie Dimon
CNBC'S Morgan Brennan sits down at the Reagan National Economic Forum with JPMorgan CEO Jamie Dimon to discuss tariffs, China, U.S. policy and more.
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3 hours ago
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JPMorgan to Accept Bitcoin ETFs as Loan Collateral in Expansion of Crypto Access: Bloomberg
JPMorgan Chase (JPM) plans to let trading and wealth-management clients use certain crypto-linked assets, including spot bitcoin exchange-traded funds (ETFs), as collateral for loans. Starting in the coming weeks, the bank will offer financing backed by shares of BlackRock's iShares Bitcoin Trust (IBIT), Bloomberg reported Wednesday, citing people familiar. For some clients, JPMorgan will also factor crypto holdings into assessments of net worth and liquidity — putting them on par with traditional securities like stocks. The shift comes just weeks after CEO Jamie Dimon said the bank would soon allow clients to buy bitcoin BTC, marking a notable turnaround from his prior hard stance against digital assets. Dimon has long criticized cryptocurrencies, particularly for their use in illegal activities like sex trafficking and money laundering. Despite those concerns, JPMorgan's pivot highlights the growing institutional pressure to accommodate crypto as its footprint in traditional finance deepens. Wealth management firms are seeing a wave of client demand for exposure to digital assets. The public listing of crypto firms on U.S. stock exchanges, combined with rising interest from investors ahead of long-sought regulatory clarity, has made it harder for banks to ignore the space. There's also political pressure. With U.S. President Donald Trump back in office, federal agencies are widely expected to ease off crypto regulation. That puts banks that have historically been wary of the asset class in a tough spot. Blocking access to crypto could now look like discrimination, not caution. Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy. Sign in to access your portfolio
Yahoo
7 hours ago
- Yahoo
JPMorgan to let clients use spot Bitcoin ETFs as loan collateral
JPMorgan to let clients use spot Bitcoin ETFs as loan collateral originally appeared on TheStreet. JPMorgan Chase is reportedly gearing up to accept spot Bitcoin ETFs as collateral for loans — a move that could open the floodgates for more crypto-backed lending on Wall Street. According to a June 4 report by Bloomberg, the bank plans to roll out the program within its trading and wealth management divisions. The initial focus will be on BlackRock's iShares Bitcoin Trust (IBIT), but sources say other spot Bitcoin ETFs will likely be included over time. JPMorgan's move comes as President Donald Trump has set a course to deregulate finance, and there are fewer obstacles to using crypto in banking and lending since his re-election. JPMorgan has previously accepted crypto ETF holdings as collateral on a case-by-case basis. But this new framework would significantly expand that, treating crypto ETFs more like traditional assets when calculating a client's net worth — similar to how stocks, real estate, or luxury assets are assessed. This means wealthy clients holding large amounts of Bitcoin via ETFs could see their borrowing power increase substantially. Bloomberg also noted that JPMorgan is beginning to formally consider crypto exposure as part of overall net worth calculations. The move comes just days after JPMorgan CEO Jamie Dimon made headlines with a notable shift in tone. In a June 2 appearance on Mornings with Maria on Fox Business, Dimon — long known for his criticism of Bitcoin — said he supports financial deregulation and warned of a potential bond crisis reminiscent of the COVID-19 era. While he hasn't exactly become a Bitcoin bull, Dimon has previously defended people's 'right to buy' crypto. JPMorgan to let clients use spot Bitcoin ETFs as loan collateral first appeared on TheStreet on Jun 4, 2025 This story was originally reported by TheStreet on Jun 4, 2025, where it first appeared. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
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8 hours ago
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JPMorgan's Lake to get expanded role as international exec leaves
This story was originally published on Banking Dive. To receive daily news and insights, subscribe to our free daily Banking Dive newsletter. Sanoke Viswanathan, JPMorgan Chase's CEO of international consumer and wealth, is leaving the bank to become CEO of FactSet in September, the data and software firm said Tuesday. Marianne Lake, the lender's CEO of consumer and community banking, will assume leadership of international consumer banking and the bank's strategic growth office, JPMorgan CEO Jamie Dimon and President Daniel Pinto wrote in a Tuesday memo to employees, seen by Banking Dive. Lake, seen as a potential successor to Dimon, 'will continue to build on' the achievements of those two units 'as we expand our consumer franchise beyond the U.S.,' Dimon and Pinto wrote. Viswanathan, who's spent 15 years in leadership roles at the bank, is also a member of JPMorgan's operating committee. In leading strategy for several years, he has overseen a number of strategic investments and acquisitions at the bank, Dimon and Pinto wrote. Viswanathan helped create international consumer banking, which now has some 2.5 million customers in the U.K. and is set to expand across Europe and beyond, Dimon and Pinto said. Chase in the U.K. launched in 2021. Pinto indicated in late 2023 it was expected to break even in 12 to 18 months. Viswanathan's purview has extended across business lines: In addition to the ICB role, he has overseen the international private bank and workplace solutions businesses within JPMorgan's asset and wealth management unit. He's also served as chief administrative officer of what is now the commercial and investment bank, leading those who laid the groundwork for what became digital and platform services, Dimon and Pinto said. Prior to his time at JPMorgan, Viswanathan spent about a dozen years at McKinsey & Co., according to his LinkedIn profile. 'Sanoke has made an indelible and positive impact on JPMorgan Chase, and we have greatly benefited from his entrepreneurial mindset,' Dimon and Pinto wrote. Lake and Mary Erdoes, the CEO of JPMorgan's asset and wealth management business, 'will make further announcements as they implement succession for the businesses that Sanoke has led,' Dimon and Pinto wrote. 'We are fortunate to have strong leadership teams in all of these businesses, and Sanoke will work closely with them to ensure an orderly transition.' The move further expands the purview of Lake, one of the top contenders to replace Dimon at the helm of the nation's largest bank. She's been with JPMorgan for 25 years, doing stints as CEO of consumer lending and CFO. Last year, Dimon, 69, indicated his retirement could be less than five years away, although during a Fox interview Monday, he seemed to contradict that, saying his retirement is still 'several years away.' Recommended Reading Huntington hires JPMorgan vet as next HR chief Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
