JPMorgan Will Provide Indirect Cryptocurrency Investment Opportunity – Bits Media

JPMorgan large investment bank launched a new product, providing the possibility of indirect investments in cryptocurrencies - through the purchase of shares of companies, related to the industry.

According to the application, submitted to the US Securities and Exchange Commission (SEC), Companies will be taken into the basket, buying cryptocurrencies, or digital assets working in the industry. So, It included Microstrategy, Owning more 90 000 BTC, payment companies Square and PayPal, Riot Blockchain mining company, Manufacturers NVIDIA, AMD, TSMC, as well as the Cme Exchange.

Within the framework of this initiative, bonds will be issued at a price $1 000 for pike. The date of pricing is set for 26 Martha 2021 of the year, The release will take place "approximately 31 Marta », and the dates of the offer and repayment of bonds are set on 2 and 5 May 2022 of the year, respectively. At the same time, JPMorgan will take 3% commission when repaying bonds, regardless of the final profitability of the basket.

“It is worth emphasizing separately, that when buying bonds, investors do not buy cryptocurrencies directly, but the effectiveness of the basket may not correlate with the price of any particular cryptocurrency, eg, Bitcoin ', - noted in the document.

The launch of a new product emphasizes the interest of financial giants with Wall Street to the cryptocurrency industry. In early March, another large investment bank Goldman Sachs launched a platform for trading cryptocurrencies for its customers.