JP Morgan Chase has designed a new debt instrument that provides investors with direct exposure to a basket of companies focused on cryptocurrencies, according to a new document submitted to the US Securities and Exchange Commission ( SEC).

The JPMorgan Cryptocurrency Exposure Basket (March 2021) is described as an unequal weight basket of 11 reference shares of US listed companies that operate related businesses Directly and indirectly in digital currencies.

According to Coin Telegraph, the tool allocates 20% to MicroStrategy for data analysis with 91064 Bitcoin on its balance sheet. It also offers direct exposure to Square (18%) and Root Blockchain (15%), two companies with significant Bitcoin exposure. Nvidia Corporation and PayPal Holdings account for 15% of the basket.

Advanced Micro Devices, Taiwan Semiconductor Corporation, InterContinental Exchange, CME Group, Overstock and Silvergate Capital are also included in the basket.

the post states: The benchmark stock weights were based in part on Bitcoin exposure, Bitcoin correlation, and liquidity.

JP Morgan says the payments are based on how the corporate basket is performing ... The minimum investment is $ 1,000 with a maturity date in May 2022.

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The new product represents one of the many ways that institutional investors can access the cryptocurrency market.

Wall Street is already pouring into digital currencies, which largely explains the strong price support that underpins Bitcoin.