JPMorgan structured note to offer clients crypto exposure

Mar. 09, 2021 4:03 PM ETJPMorgan Chase & Co. (JPM), MSTR, SQ, RIOT, NVDA, PYPL, AMD, TSM, ICE, CME, OSTK, SI, BTC-USDOSTK, JPM, AMD, NVDA, TSM, CME, ICE, MSTR, RIOT, PYPL, SQ, SIBy: Stephen Alpher, SA News Editor115 Comments
  • The Bank of Dimon (NYSE:JPM) for the first time has mentioned the word "Bitcoin" in an SEC filing, according to MacroScope.
  • The mention comes in a prospectus for the JPMorgan Cryptocurrency Exposure Basket, a structured note that won't be investing directly in cryptos, but instead in related companies.
  • Microstrategy (NASDAQ:MSTR) will be the largest holding at 20%, with Square (NYSE:SQ) at 18%, Riot Blockchain (NASDAQ:RIOT) and Nvidia (NASDAQ:NVDA) at 15%, PayPal (NASDAQ:PYPL) at 10%, and AMD (NASDAQ:AMD), Taiwan Semi (NYSE:TSM), Intercontinental Exchange (NYSE:ICE), CME Group (NASDAQ:CME), Overstock (NASDAQ:OSTK), and Silvergate Capital (NYSE:SI) each making up 5% or less.
  • The note will pay out in May 2022 based on performance, minus, of course, a 1.5% fee.
  • Yesterday, Bitcoin saw its first investment (that we're aware of) from a publicly-traded Scandinavian firm, when industrial conglomerate Aker announced the purchase of 1,170 coins.

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