{"id":198209,"date":"2021-03-10T03:05:37","date_gmt":"2021-03-10T00:05:37","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/jpmorgan-launching-crypto-exposure-basket-featuring-microstrategy-and-square\/"},"modified":"2021-03-10T03:05:37","modified_gmt":"2021-03-10T00:05:37","slug":"jpmorgan-launching-crypto-exposure-basket-featuring-microstrategy-and-square","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/jpmorgan-launching-crypto-exposure-basket-featuring-microstrategy-and-square\/","title":{"rendered":"# JPMorgan launching ‘crypto exposure basket’ featuring MicroStrategy and Square"},"content":{"rendered":"

“# JPMorgan launching ‘crypto exposure basket’ featuring MicroStrategy and Square <\/strong>”
\n<\/p>\n

JPMorgan Chase has designed a new debt instrument that provides investors direct exposure to a basket of crypto-focused companies, according to a new filing with the United States Securities and Exchange Commission, or SEC.<\/p>\n

JPMorgan\u2019s Cryptocurrency Exposure Basket (Mar 2021) is described<\/a> as an \u201cunequally weighted basket consisting of 11 Reference Stocks of U.S.-listed companies” that operate businesses directly and indirectly related to cryptocurrencies.<\/p>\n

The instrument allocates 20% to MicroStrategy, the data analytics firm with 91,064 BTC on its balance sheet. It also provides direct exposure to Square (18%) and Riot Blockchain (15%), two companies with significant exposure to Bitcoin. Nvidia Corporation and PayPal Holdings each account for 15% of the basket. <\/p>\n

Advanced Micro Devices, Taiwan Semiconductor Company, Intercontinental Exchange, CME Group, Overstock.com and Silvergate Capital are also included in the basket. <\/p>\n

The prospectus states:<\/p>\n

\u201cThe weights of the Reference Stocks were determined based in part on exposure to Bitcoin, correlation to Bitcoin and liquidity.\u201d<\/p><\/blockquote>\n

JPMorgan says payouts are based on how the basket of companies performs. The minimum investment is $1,000 with a maturation date of May 2022.<\/p>\n

The new product represents one of many ways institutional investors can gain access to the high-flying cryptocurrency market. Wall Street is already flocking to digital currencies, which largely explains the strong price support underlying Bitcoin. The flagship digital currency traded as high as $54,888 on Tuesday, according to TradingView.\u00a0<\/p>\n

If the recently launched Purpose Bitcoin exchange-traded fund is anything to go by, traditional investors have a strong app<\/a>etite for digital assets. The Canadian ETF saw nearly $100 million in volume during its debut earlier this month, putting it on track to exceed $1 billion in assets after the first week.\u00a0<\/p>\n