JP Morgan crypto basket includes OSTK.
JPMorgan structured note to offer clients crypto exposure
Mar. 09, 2021 4:03 PM ETJPMorgan Chase & Co. (JPM)By: Stephen Alpher, SA News Editor102 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. https://seekingalpha.com/news/3670886-jpmorgan-structured-note-to-offer-clients-crypto-exposure