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J.P Morgan to Launch “Cryptocurrency Exposure Basket”

J.P Morgan to Launch "Cryptocurrency Exposure Basket"

Popular U.S financial services giant, J.P Morgan has filed an application with the United States Securities and Exchange Commission (SEC) to issue notes for a new investment product.

The new basket dubbed “JPMorgan Cryptocurrency Exposure Basket” will track the equity of publicly traded U.S companies that are either directly or indirectly invested in Bitcoin and cryptocurrency-related efforts.

According to the filing, the basket will track 11 reference stocks comprising of Class A or common stocks of companies such as MicroStrategy, Square, PayPal, Silvergate, Riot Blockchain, CME Group, OverStock, Advanced Micro Device, and NVIDIA.

More to follow…

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