Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Bitcoin Forum => Bitcoin News & Updates => Topic started by: Malam90 on March 10, 2021, 02:15:13 AM
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Just weeks after JPMorgan Chase published a report warning that traditional financial companies are at risk of falling behind in digital finance, the largest U.S. bank is looking to issue debt linked to cryptocurrency-focused companies.
J.P. Morgan Cryptocurrency Exposure Basket, the incoming debt instrument, is long on MicroStrategy (20%) Square (18%), Riot Blockchain (15%) and chipmaker NVIDIA (15%) with positions in 11 companies total. It does not invest directly in cryptos, according to the prospectus.
The filing reveals yet another way Wall Street players are looking to give their clients access to the upside of a booming crypto market, which CoinGecko now estimates at $1.7 trillion. Source Link (https://www.coindesk.com/jpmorgan-to-launch-cryptocurrency-exposure-basket-of-bitcoin-proxy-stocks)
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JPMorgan was considered as one of the most known and fiercest critics of Bitcoin at the time when Bitcoin was not yet considered as the darling of many investors. Now, they are of course one of the many who are heaping praises for the cryptocurrency. Such is the about-face of JPMorgan that is now advocating for others to also join the Bitcoin bandwagon. And now they are making sure that they are making the most money from the Bitcoin craze. Good job, guys. Now, I am really sure that where the money is you can be sure there will be JPMorgan in the midst.