Saylor Confirms Major US Banks Will Lend Against Bitcoin

Speaking yesterday at the Bitcoin MENA conference, Strategy’s executive chairman revealed that he has been approached by a cohort of major financial institutions, including Wells Fargo, Citi, JPMorgan, BNY Mellon, Bank of America and Charles Schwab, regarding plans to issue credit against Bitcoin or Bitcoin derivatives.

While Saylor frames this as a "sea change" arriving by 2026, the plumbing is already being installed. The shift marks the transition of the asset class from a speculative instrument to a foundational layer of credit underwriting.

The institutional footprint

Saylor’s comments align with a growing body of evidence that major desks are moving beyond simple access (ETFs) to utility (lending). The distinction is critical: selling an ETF generates fees; lending against it generates yield and lock-in.

• JPMorgan: The bank is arguably the furthest ahead. Reports from June 2025 indicated the firm had begun accepting Bitcoin ETFs (specifically BlackRock’s IBIT) as collateral for loans to private wealth clients. By October, this expanded to net-worth assessments that include direct digital holdings.
   
• Bank of America: The strategy here is coverage first, credit second. BofA investment strategists are set to initiate formal coverage of major Bitcoin ETFs on 5 Jan 2026, with recommended portfolio allocations of 1-4%. Formal coverage is the internal prerequisite for risk management teams to approve an asset as collateral.
   
• Citi: The bank is prioritizing the vault. Citi has successfully piloted digital asset custody for private clients and is targeting a full commercial rollout in 2026. Once a bank holds the asset, lending against it is a standard treasury function.

From access to utility

Access defined the 2024-2025 cycle, getting the ETFs approved and into brokerage accounts. The 2026 cycle is shaping up to be about Utility.

For institutions, the ability to borrow against Bitcoin holdings without triggering a taxable sale is the "killer app" of the asset class. For banks, it represents a new, high-quality collateral type in a market that is hungry for liquidity.

Saylor’s prediction that this will be "standard practice" by 2026 is more of a leak of the industry roadmap than a forecast. The banks have pivoted from observation to financialization.