JPMorgan now accepts Bitcoin and Ethereum as collateral for dollar loans to institutional clients.

JPMorgan launched a program in March 2026 allowing institutional clients to pledge Bitcoin and Ethereum as collateral for U.S. dollar loans via its Kinexys platform. The bank applies high collateral haircuts of 30% to 50% on crypto, reflecting its risk compared to traditional assets like Treasuries. Custodians like Fidelity Digital Assets and Coinbase hold the tokens, while Chainlink provides real-time pricing. This move marks a shift from JPMorgan's previous skepticism toward crypto and signals growing institutional acceptance. Other major banks are also developing crypto-collateral systems, with broader retail access to JPMorgan's program potentially coming by mid-2027, depending on regulatory guidance.