According to a filing with the United States Securities and Exchange Commission (SEC), JPMorgan plans to launch a tool that will provide greater accessibility to the world of cryptocurrencies to its clients.
The new instrument will be titled JPMorgan’s Cryptocurrency Exposure Basket. It is a set of reference stocks made up of cryptos or that operate linked to them. It will be carried out through a structured note offering tied to a basket of stocks related to the assets.
In this way, JPMorgan & Chase clients will have access to these tradable instruments in many cases, as hedge assets against inflation.
This instrument would be made up of various companies and not equitably. MicroStrategy Incorporated will have a 20% shareholding and Square Inc company 18%. On the other hand, companies dedicated to the crypto industry Riot Blockchain Inc and NVIDIA Corporation, will be represented by 15% each. Other companies with investments in this instrument that will make up this portfolio are Paypal, Holdings Inc, Advanced Micro Devices, Inc. and Silvergate Capital Corp.
This implies that investors attracted by the performance of cryptocurrencies, will have a support framework in the entity, and will be exposed not directly since these actions are of said companies, they are directly or indirectly linked to crypto.
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Price of BTC is at $ 56,060 dollars and ETH in $ 1,783, both are close to their maximum, the scenario is of buy preference. BTC below $ 5600 up to $ 54000 the preference is sell. Possible correction for ETH, down from $ 1800 to $ 1750, $ 1732.