JPMorgan to Launch Investment “Basket” Tied to 11 Crypto-Focused Firms including MicroStrategy, Square, and Nvidia

JPMorgan has filed a request with the Securities and Exchange Commission to approve a debt instrument linked to 11 firms that have all invested in Bitcoin and othe

The debt instrument will enable investors to have direct exposure to a basket of cryptocurrency-focused firms. 68% of the “Basket” will be made up of MicroStrategy, Square, Riot Blockchain, and NVIDIA. Other companies that are included in the debt instrument are PayPal, Advanced Micro Devices, Taiwan Semiconductor Company, Intercontinental Exchange, CME Group, Overstock.com and Silvergate Capital. Per the official filing:

“The Reference Stocks in the Basket represent the common stocks / American depositary shares of 11 U.S.-listed companies that operate businesses that we believe to be, directly or indirectly, related to cryptocurrencies or other digital assets, including as a result of bitcoin holdings, cryptocurrency technology products, cryptocurrency mining products, digital payments or Bitcoin trading.”

“The weights of the Reference Stocks were determined based in part on exposure to Bitcoin, correlation to Bitcoin and liquidity.”

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