JPMorgan is warming up to crypto. The company plans to let institutional clients use their Bitcoin and Ethereum as collateral for loans. That would be a big deal on its own, but it’s especially notable considering what CEO Jamie Dimon has said in the past. He once compared Bitcoin to a “pet rock”, claimed crypto was mostly for criminals, and even said, “If I was the government, I’d close it down.”
Now, they’ll be accepting BTC and ETH. How times change.
JPMorgan CEO Jamie Dimon: “If I was the government, I’d close it down.”
— CryptosRus (@CryptosR_Us) October 25, 2025
JPMorgan today: “We now accept $BTC as collateral.”
You can’t make this up.https://t.co/V6ZVEHHgvr pic.twitter.com/jZgGTz33M4
In truth, this shift has been building. Back in May, Dimon hinted that the firm’s stance was softening:
I don’t think we should smoke, but I defend your right to smoke. I defend your right to buy Bitcoin, go at it.
Jamie Dimon, JPMorgan CEO The bank will also let clients use crypto-backed exchange-traded funds (ETFs), including both Bitcoin and Ethereum ETFs, as loan collateral. These changes come as institutional interest continues to increase.
Spot Bitcoin and Ethereum ETFs have already gathered hundreds of billions in assets since launching last year, making them some of the fastest-growing ETFs ever.
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After heavy outflows during the market pullback two weeks ago, inflows have begun to return. On Thursday and Friday, U.S. spot Bitcoin ETFs saw around US$110.9 million (AU$169.6 million) in net inflows, bringing the weekly total to about US$444.6 million (AU$680 million).
The U.S. ETFs now hold roughly 1.349 million BTC, valued at US$155 billion (AU$237 billion) — about 6.4% of the total Bitcoin supply.
At the time of writing, the crypto market is back in the green. Bitcoin is up 2.8% in the past 24 hours, trading around US$114,789 (AU$175,587). Altcoins are also on the rise, with Ethereum and Hyperliquid up 5.2% and 8.09% respectively.
The rally comes as U.S. President Donald Trump visits Asia and is expected to meet Chinese President Xi Jinping during the APAC summit in Gyeongju, South Korea this week. Optimism is growing that the two leaders can work toward easing trade tensions.
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The post JPMorgan to Let Institutions Use Bitcoin and Ether as Loan Collateral, Marking Major Wall Street Shift appeared first on Crypto News Australia.
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