JPMorgan Chase (JPM) plans to let trading and wealth-management clients use certain crypto-linked assets, including spot bitcoin exchange-traded funds (ETFs), as collateral for loans.

Starting in the coming weeks, the bank will offer financing backed by shares of BlackRock’s iShares Bitcoin Trust (IBIT), Bloomberg reported Wednesday, citing people familiar. For some clients, JPMorgan will also factor crypto holdings into assessments of net worth and liquidity — putting them on par with traditional securities like stocks.

The shift comes just weeks after CEO Jamie Dimon said the bank would soon allow clients to buy bitcoin BTC, marking a notable turnaround from his prior hard stance against digital assets. Dimon has long criticized cryptocurrencies, particularly for their use in illegal activities like sex trafficking and money laundering.

Despite those concerns, JPMorgan’s pivot highlights the growing institutional pressure to accommodate crypto as its footprint in traditional finance deepens. Wealth management firms are seeing a wave of client demand for exposure to digital assets. The public listing of crypto firms on U.S. stock exchanges, combined with rising interest from investors ahead of long-sought regulatory clarity, has made it harder for banks to ignore the space.

There’s also political pressure. With U.S. President Donald Trump back in office, federal agencies are widely expected to ease off crypto regulation. That puts banks that have historically been wary of the asset class in a tough spot. Blocking access to crypto could now look like discrimination, not caution.

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