According to Henri Arslanian, JPMorgan will allow institutional clients to use Bitcoin (BTC) as collateral, as stated in his X post on Nov 8, 2025 (source: Henri Arslanian on X). The post does not include specifics on haircuts, eligible venues, custodians, or launch timing, so official implementation parameters are not provided in that source (source: Henri Arslanian on X). For context, JPMorgan’s Onyx Tokenized Collateral Network previously enabled tokenized money market fund shares to be pledged as collateral rather than BTC (source: JPMorgan Onyx announcement, Oct 11, 2023); traders should watch for any JPMorgan documentation detailing eligibility and haircuts, which typically set the framework for basis and funding dynamics in collateral-driven strategies (source: IMF research, Collateral and Financial Plumbing by Manmohan Singh, 2017).