Popular US investment bank JPMorgan has just filed a series of documents with the US Securities and Exchange Commission (SEC), according to which the company has plans to launch a new product: a basket of shares of cryptocurrency-related companies.
The basket will include shares of MicroStrategy, Square, PayPal, Riot Blockchain, NVIDIA, AMD, TSMC, Intercontinental Exchange, CME Group, Overstock and Silvergate.
Notably, MicroStrategy will be the company with the largest stake in the basket with a 20% proportion.
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JPMorgan has pointed out that the instrument is not associated with any particular cryptocurrency, including Bitcoin, and that the performance of the companies may not correlate with the performance of the digital currency market.
Investment in the instrument will be possible through structured notes whose performance is associated with the dynamics of the underlying asset or a basket of assets. The notes will pay out based on the performance of the company after deducting a 1.5% fee. The notes carry a pricing date of March 26 and an original issue date of "about March 31."