JPMorgan Chase (JPM), the largest bank in the United States, is preparing to allow its trading and wealth management clients to use certain cryptocurrency-related assets as collateral for loans, according to Bloomberg. The major move is in line with the bank's efforts to expand into an industry that has gained support from President Donald Trump.

In the coming weeks, the bank will begin offering financing for cryptocurrency exchange-traded funds (ETFs), starting with BlackRock's iShares Bitcoin Trust, according to people familiar with the matter. The step marks the continued development of the cryptocurrency sector by major U.S. banks following the Trump administration's efforts to reduce regulatory restrictions.

The bank will also begin to consider its wealth management clients' cryptocurrency holdings when determining their overall net worth and liquidity. This approach suggests that cryptocurrencies will receive similar treatment to other assets such as stocks, cars or art when calculating the borrowing power of client assets.

When asked for comment, a representative for JPMorgan Chase chose not to respond.