Financial holding JPMorgan Chase will launch a new investment vehicle based on shares of public companies associated with the crypto industry.
According to documents sent to the Commission onUS Securities and Exchange Commission, by April of this year the bank will offer clients a “basket” of the 11 leading companies directly or indirectly working with digital assets.
The lion's share of the new product will come fromshares of 5 companies: MicroStrategy (20%), Square (18%), Riot Blockchain (15%), NVIDIA (15%) and PayPal (15%). The remaining 17% will include shares of ICE, CME Group, Overstock, Silvergate, AMD and Taiwan Semiconductor Company.
JPMorgan indescription notes that the cart will not be linkedwith none of the cryptocurrencies and digital asset market trends. The initial bond issue is scheduled for March 31. The debt securities will be repaid on May 5, 2022.
New Product Launch Indicates Growthinterest of Wall Street investors in this area. According to a recent study by Gartner, 5% of corporations plan to invest in bitcoin by the end of the year.
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