JPMorgan Eases Rules for Loans Backed by SpaceX IPO Shares
JPMorgan is loosening its lending approach for shares held by employees and early investors in newly listed companies, including SpaceX ahead of its June IPO. Bankers were told JPMorgan could lend against SpaceX shares before a key period expires, potentially extending the approach to Anthropic if it lists. JPMorgan earned about $75 million from its SpaceX work, focusing on liquidity and price discovery while noting risks like price swings and lock-up limits.