• Press Releases
    • Submit a press release
    • Read All
  • Advertise
  • Contact us
Crypto.com Logo Crypto.com Logo
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • Gambling
      • Bitcoin Casinos
      • Real Money Slots
      • Online Casino Real Money
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Play Finance
Breaking News: Breaking: SEC Sues Binance And CEO For Alleged Securities Fraud
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • Gambling
      • Bitcoin Casinos
      • Real Money Slots
      • Online Casino Real Money
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Play Finance
Bitcoinist.com
No Result
View All Result
Breaking News: Breaking: SEC Sues Binance And CEO For Alleged Securities Fraud
bitcoin jp morgan crypto microstrategy

JP Morgan Builds Basket Of Companies With Bitcoin Exposure

Tony "The Bull" by Tony "The Bull"
2 years ago
in Bitcoin
0

MicroStrategy shares skyrocketed alongside the parabolic Bitcoin rally as investors rushed to gain exposure to the trending cryptocurrency any way they could. Banking on this demand, JP Morgan is planning to introduce a new investment product that is a basket of companies with some type of cryptocurrency market exposure.

Here’s a deeper look at what this new investment product from JP Morgan could entail according to an SEC filing, as well was what this could mean for the cryptocurrency industry.

JP Morgan Files With SEC To Build Crypto Exposure Basket Investment Product

This morning, news broke that JP Morgan had filed with the SEC its intention to create a new investment product that is essentially a weighted basked of companies with cryptocurrency exposure. The product is designed to provide investors with exposure to the highly volatile asset class indirectly, through companies that either hold BTC as part of their corporate treasury strategy, or whose revenue is tied to the crypto industry in some way.

RELATED READING |BUYING BITCOIN COULDN’T SAVE MICROSTRATEGY SHARES FROM 50% CRASH

To little surprise, the Michael Saylor-led MicroStrategy makes up the largest share of the basket at 20%, with Square Inc, Riot Blockchain, and Nvidia making up 18%, 15%, and 15% respectively. The remaining 32% of the basket is comprised of the likes of AMD, PayPal, and CME Group, which each have ties to Bitcoin in various capacities.

MicroStrategy, Square, and PayPal’s entry into crypto are what sparked the initial bull market breakout, and the leading cryptocurrency has never looked back, growing from $200 billion to $1 trillion in market cap.

microstrategy bitcoin jp morgan product crypto

MicroStrategy shares have performed nearly as well as Bitcoin, prompting such demand | Source: MSTR on TradingView.com

Bitcoin Quickly Becoming The Corporate Treasury Asset Of Choice

MicroStrategy owns more than 90,000 BTC, and Square owns another 8,000. The rest of the players are either involved in cryptocurrency mining or exchange services. The new product is in response to surging demand for indirect exposure to cryptocurrencies, but at the same time is an indicator of where innovation lies in the tech world.

These tech brands aligning themselves with the cryptocurrency industry is not only benefiting them by boosting company revenues and treasury reserve balance sheets, but it is bringing added attention to the companies involved.

At the same time, these brands being aligned with the cryptocurrency industry and the fact that JP Morgan is responding to demand for such products seriously legitimizes Bitcoin and the rest of crypto.

RELATED READING | HOW LASER EYES COULD HAVE BITCOIN INVESTORS SEEING RED

It is not clear if the number of companies included in the basket will expand, or if the weighting will change based on an algorithm or some formula. However, the impact of Michael Saylor’s corporate BTC-buying conference could result in several more major companies getting into crypto with a similar approach.

Not only could this change the shape of JP Morgan’s product in the future, as more and more corporations pile into Bitcoin, it could be the catalyst that sends the price per coin to hundreds of thousands, if not more.

Featured image from Deposit Photos, Charts from TradingView.com
ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.

Tony "The Bull"

Tony "The Bull"

Tony "The Bull" is a level 3 CMT student (passed level 1 & 2), technical analyst, Bitcoin supporter, and avid speculator. Tony is deeply fascinated by core market principles such as Elliott Wave Theory as they tie into mathematics like Fibonacci ratios. Market timing though DeMark indicators, Ichimoku, Gann tools, or Hurst Cycle Theory are also of key interest. Tony provides completely original content driven by exclusive, independent research. For more insights and education from Tony, check him out on Twitter or in his free TonyTradesBTC Telegram channel. Follow @TonyTheBullBTC on Twitter and search CoinChartist on YouTube.

Related Posts

Bitcoin Whale Shark

Bitcoin Sharks & Whales Have Bought 93,000 BTC Since April Top: Santiment

1 week ago
Bitcoin

BREAKING: Bitcoin Mining Industry Spared From 30% Tax In US Debt Ceiling Deal

1 week ago
Bitcoin

Bitcoin Taker Buy Sell Ratio At Highest Since Feb, What Does It Mean?

1 week ago
Bitcoin

Bitcoin Shrimps Continue Aggressive Accumulation As Holdings Hit ATH

1 week ago
Bitcoin Bull

Bitcoin Bullish Signal: Exchange Netflow Registers Negative Spike

2 weeks ago
Bitcoin

Bitcoin “Buy The Dip” Mentality Disappears, Is Now Actually The Time To Buy?

2 weeks ago
Please login to join discussion

Premium Partners

Premium Casino Partners

Play Finance

Now Trending

  • Whale Power Unleashed: Mooky Emerges as the Rival Meme Coin...

    5 days ago
  • Exploring the Meteoric Rise of Mooky: Could It Be the Next...

    5 days ago
  • Discover the Next Big Thing: Mooky.io Presale Boasting Fair...

    5 days ago

Top Casinos

Trust Dice
Trust Dice
Punt Casino
Punt Casino
mBit
mBit
1xBit
1xBit
K8
K8

Press Releases

  • AiDoge Presale Hits $12 Million, but Could Chancer Be the...

    13 mins ago
  • How Avorak AI and Ethereum Are Gaining a Foothold in Asian...

    1 hour ago
  • Look For Opportunities With Uwerx(WERX) Presale And...

    1 hour ago
  • PancakeSwap (CAKE) Gains, Sparklo (SPRK) To Enter Top 100...

    2 hours ago
  • TMS Network (TMSN) Rockets to New Heights, as Fantom (FTM)...

    2 hours ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS
  • NAGA

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

Pages

  • Contact us
  • Editorial Policy
  • Advertise
© 2023 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • Gambling
      • Bitcoin Casinos
      • Real Money Slots
      • Online Casino Real Money
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Play Finance

© 2023 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.