Historic Turn! JPMorgan plans to launch Bitcoin and Ether mortgages. CEO Jamie Dimon's stance reversed?

JPMorgan, the world's largest bank, is planning to launch mortgage services backed by Bitcoin (BTC) and Ethereum (ETH), potentially as early as 2026. This move marks a dramatic shift in the bank's stance on cryptocurrency—from CEO Jamie Dimon threatening to "fire any employee trading in Bitcoin" to now actively incorporating crypto assets into their credit system. A policy turning point has arrived: the implementation of the CLARITY Act and expectations of regulatory easing under the Trump administration are driving traditional financial giants to accelerate their layouts in the crypto market. Morgan Stanley is also planning to offer crypto trading through E*Trade.

Business Breakthrough: Crypto Assets Officially Become Qualified Collateral for Banks

According to the Financial Times of the UK, the core points of JPMorgan's new mortgage business are:

1. Collateral Target: Accept Bitcoin (BTC) and Ethereum (ETH) held by the client as loan collateral.
2. Launch Window: Earliest 2026 to start (specific plan still subject to change)
3. Strategic Extension: Previously announced the exploration of using cryptocurrency ETF holdings as collateral, this breakthrough incorporates native tokens into the system.

Policy Tailwind: Clarified Regulations Open the Gate for Traditional Finance to Enter

The deep driving force behind this round of business transformation:

• Effective Date of the Bill: The U.S. "Market Structure Act" (CLARITY Act) was officially implemented last week, establishing a comprehensive regulatory framework for Crypto Assets for the first time.
• **White House Shift: ** The Trump administration will release a new crypto policy report on July 22, expecting significantly looser regulations compared to the Biden era.
• Inter-industry competition: BlackRock (, Fidelity ), and other asset management giants have seized the initiative through spot ETFs, forcing banks to follow suit.

Dimon's 180-Degree Turn: From "Fraud Theory" to Defending Ownership Rights

The evolution of JPMorgan CEO's stance highlights a paradigm shift in the industry:

• Historical Toughness: Once called Bitcoin a "fraud," threatened to fire employees trading crypto.
• Reality Compromise: Sources revealed that early remarks led banks to miss clients and lose business.
• Current Transformation: Public statement in May 2024: "While I do not recommend you smoke, I defend your right to smoke. Similarly, I defend your right to purchase Bitcoin."
• Strategic Adjustment: In addition to mortgage loans, the bank is studying a stablecoin issuance plan to compete with Tether(USDT) and Circle(USDC).

Acceleration of TradFi Entry: The Era of Comprehensive Services is Here

J.P. Morgan is not an isolated case; traditional institutions are systematically positioning themselves.

1. Morgan Stanley: Plans to offer cryptocurrency trading services through its E*Trade platform.
2. Banking Infrastructure: The "GENIUS Stablecoin Act" paves the way for compliant stablecoins to become the next battleground.
3. Collateral Expansion: From ETF derivatives to native tokens, crypto assets penetrate deeply into TradFi.

Conclusion: JPMorgan's decision to incorporate BTC/ETH into its collateral system marks a key transition of cryptocurrencies from "fringe speculative assets" to "mainstream financial collateral." The dramatic reversal of Dimon's stance is, in fact, an inevitable choice made by traditional finance under the pressure of regulatory clarity and client demand. With the implementation of the CLARITY Act and the expectation of lenient policies from the Trump administration, the pace at which major banking entities enter the market will accelerate, creating a full-service ecosystem of "spot ETF → collateralized loans → stablecoin issuance." Caution is warranted: the collateralized loan business may introduce two new risks—1) insufficient collateral liquidation caused by price volatility of crypto assets; 2) the challenge of adapting traditional banking risk management systems to on-chain asset monitoring. However, there is no doubt that 2026 may become the explosive year for institutional-level crypto financial services.