Investment banking firm JPMorgan Chase plans to permit institutional clients to pledge Bitcoin and Ethereum holdings as collateral for loans. The program is set to launch by the end of the year, according to reports.
The initiative will operate globally and rely on third-party custodians to hold the pledged digital assets. This expansion builds on JPMorgan’s previous decision to accept cryptocurrency-linked exchange-traded funds as collateral. The move marks a practical shift in how the bank treats digital assets within its lending operations.
The last time something new became collateral, it was U.S. Treasuries. pic.twitter.com/2kk7WcFc5H
— OKUNG (@RussellOkung) October 24, 2025
THEY MOVED $3 BILLION AND NOBODY NOTICED
This is not a drill. This is not speculation. This is the silent coup of our generation.
Since July, Bitcoin whales executed the largest ideological betrayal in financial history—$3 BILLION transferred from self-custody into BlackRock’s vaults. Tax-free. Traceless. Irreversible.
THE MECHANISM THEY HID FROM YOU:
SEC approved “in-kind” conversions in July 2025. Whales who bought Bitcoin at $5,000 now swap directly into ETF shares at $60,000. No sale. No tax event. 37% capital gains—ERASED. Wall Street didn’t defeat Bitcoin. They made surrender profitable.
THE NUMBERS THAT BREAK REALITY:
BlackRock now controls 800,000 BTC—4% of the TOTAL supply that will EVER exist. One entity. One failure point. One phone call from any government.
On-chain transactions down 15%. The blockchain is going dark while ETF volume eclipses Coinbase. 75% of BlackRock’s new money came for THIS.
THE HISTORICAL PARALLEL NO ONE SEES:
Gold ETFs centralized 30% of supply by 2015. Bitcoin is sprinting down the same path in 36 months—not 11 years.
Within 12 months, analysts project 10% of all Bitcoin locked behind institutional doors. The revolution that promised “be your own bank” now queues at Wall Street’s teller window.
THE BETRAYAL:
Wes Gray: “Whales adopting Wall Street custody—the ultimate irony.”
Alex Gladstein: “We’re trading sovereignty for convenience.”
Eric Wall: “The blockchain is becoming a museum.”
This wasn’t hacked. This wasn’t stolen. This was CHOSEN.
15 years of self-custody culture—obliterated in one summer by a tax code loophole and the promise of collateral loans.
Bitcoin didn’t fail. Its holders did.
The 10% threshold approaches. After that, there’s no going back.
THEY MOVED $3 BILLION AND NOBODY NOTICED
This is not a drill. This is not speculation. This is the silent coup of our generation.
Since July, Bitcoin whales executed the largest ideological betrayal in financial history—$3 BILLION transferred from self-custody into BlackRock’s… pic.twitter.com/SAnmNV95G2
— Shanaka Anslem Perera ⚡ (@shanaka86) October 25, 2025
