JPMorgan Chase will allow institutional clients to use Bitcoin and Ethereum as collateral for loans, according to sources familiar with the matter. The world's largest bank by market capitalization plans to launch the service by the end of 2025, with third-party custodians holding the pledged digital assets. The move marks a shift from the bank's historically cautious stance on cryptocurrency, despite CEO Jamie Dimon previously describing Bitcoin as "a pet rock."

The cryptocurrency sector reached 716 million users globally, a 16% annual increase, according to venture capital firm a16z's 2025 State of Crypto report. The industry crossed the $4 trillion market capitalization threshold for the first time. Between 40 million and 70 million users now actively transact onchain regularly.