JPMorgan Chase launches new product! A stock portfolio related to cryptocurrencies including MicroStrategy, TSMC, Square, and others.

According to the latest prospectus submitted to the U.S. Securities and Exchange Commission (SEC) by the American banking giant JPMorgan, the bank plans to launch an investment portfolio consisting of stocks from 11 listed companies indirectly related to the cryptocurrency market, allowing investors to directly invest in a basket of companies indirectly related to cryptocurrency.

A Basket of Stocks Indirectly Related to Cryptocurrency

According to an announcement, an asset portfolio composed of stocks of companies related to cryptocurrency includes 11 well-known companies in the cryptocurrency field. These companies include publicly traded companies like MicroStrategy, which has acquired a large amount of Bitcoin, Square and PayPal, which provide Bitcoin business services, as well as Riot Blockchain, NVIDIA, AMD, semiconductor giant TSMC, Intercontinental Exchange, CME Group, Overstock, and Silvergate, among other publicly traded companies indirectly related to Bitcoin. Additionally, the weight of each company in the new product varies.

JPMorgan wrote in its prospectus:

"The weight of the reference stocks is determined in part based on the risk exposure to Bitcoin, as well as the correlation and liquidity to Bitcoin."

Although the companies in the basket of assets are all involved in the cryptocurrency field or provide Bitcoin-related services, the bank emphasized in the prospectus that the risk exposure provided is not directly related to any specific cryptocurrency (including Bitcoin) and the performance of the product itself will not be tied to the performance of the cryptocurrency market itself.

The product is expected to be priced on March 31, with the initial issuance on April 6 and a maturity date in May 2022.