The first fund approved under the new policy is iShares Bitcoin Trust (IBIT) by BlackRock, the world’s largest asset manager. JPMorgan reportedly plans to expand the list of eligible crypto ETFs in the near future as market maturity and client demand increase.
Clients will be able to pledge these digital asset-backed ETFs to obtain liquidity for a wide range of purposes—either through traditional brokerage services or private banking accounts. This lending model mirrors existing practices where stocks or bonds are used as leverage, reinforcing the growing parity between digital and conventional asset classes.
In a broader shift, JPMorgan will also begin factoring crypto assets into clients’ total net worth calculations. The bank now equates digital holdings—such as Bitcoin ETFs—with legacy assets like equities, real estate, luxury vehicles, and fine art. This positions crypto not merely as a speculative vehicle but as a core component of high-net-worth portfolios.
This announcement comes shortly after CEO Jamie Dimon confirmed in May 2025 that the bank would facilitate direct Bitcoin purchases for select clients—a major departure from the firm’s previously cautious stance on digital assets.
JPMorgan’s crypto pivot aligns with a broader industry trend: traditional financial institutions are increasingly embracing digital assets amid rising demand for tokenized investment products and decentralized financial instruments. With BlackRock, Fidelity, and Grayscale dominating ETF inflows, banks are racing to integrate these products into legacy frameworks to retain competitive advantage.