The largest bank in the United States is on its way to providing clients with a lens into the Cryptocurrency investment space. The news hit crypto Twitter shortly after JPMorgan filed for specific sets of documents, required for a “Cryptocurrency Exposure Basket”, with special references to Bitcoin.
In the filing, which was posted to the Security and Exchange Commissions’ (SEC) official website, 11 reference stocks made the list. A good number of the stocks in the basket included Fintech ventures that have recently adopted the provision of Cryptocurrency related services. Microstrategy, PayPal, Square, Riot, CME Group were a part of the referenced stock.
Contained in the piece posted to the SEC’s website, as issued by the JPMorgan Chase Financial Company, was a definition of the listed companies, all of which have ties with Cryptocurrency assets.
“An unequally weighted basket consisting of 11 Reference Stocks of U.S -listed companies that operate businesses that we believe to be directly or indirectly related to cryptocurrencies or other digital assets including as a result of Bitcoin holdings, cryptocurrency technology products, Cryptocurrency mining products, digital payments or bitcoin trading.” It read.
JPMorgan to introduce new whales to leading digital assets
In essence, JPMorgan seeks to introduce existing clients to cryptocurrencies, through exposure, by means of partnering with public-company stocks that are already in possession of Cryptocurrencies, or that are affiliated with digital assets in other ways.
It was necessary to hint that the involved assets are subject to constant volatility, and the bank made this …
Story continues on Zycrypto