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JPMorgan Is Launching A "Cryptocurrency Exposure Basket" That Will Track Stocks Which Are Heavily Involved In Bitcoin
Summary: JPMorgan Chase plans to launch a basket product to indirectly seek crypto exposure. According to several public filings from the Securities and Exchange Commission, JPMorgan is launching a "JP Morgan Cryptocurrency Exposure Basket", which contains 11 Bitcoin-related company stocks, such as MicroStrategy (MSTR), Square (SQ), Riot Blockchain (RIOT), PayPal (PYPL) and CME (CME), etc. JPMorgan ...
JPMorgan Chase plans to launch a basket product to indirectly seek crypto exposure.
According to several public filings from the Securities and Exchange Commission, JPMorgan is launching a "JP Morgan Cryptocurrency Exposure Basket", which contains 11 Bitcoin-related company stocks, such as MicroStrategy (MSTR), Square (SQ), Riot Blockchain (RIOT), PayPal (PYPL) and CME (CME), etc.
JPMorgan Chase emphasized in the filings that "the notes do not provide direct exposure to cryptocurrencies and the performance of the Basket may not be correlated with the price of any particular cryptocurrency, such as Bitcoin."
CoinGecko said the document proves that the Wall Street giant provides another way for customers to access the $1.7 trillion crypto market.
By Mary Liu
Tags: Bitcoin,CME,Cryptocurrency,JPMorgan,MicroStrategy,Paypal,Riot Blockchain,Square
Link: JPMorgan Is Launching A "Cryptocurrency Exposure Basket" That Will Track Stocks Which Are Heavily Involved In Bitcoin [Copy]
