TechFlow, November 26 — According to Decrypt, JPMorgan has filed an application with the U.S. Securities and Exchange Commission (SEC) to launch a leveraged structured note product that would allow investors to speculate on future Bitcoin prices through the BlackRock iShares Bitcoin Trust ETF.
According to the prospectus, the product features a special mechanism: if the Bitcoin ETF price equals or exceeds the set level on December 21, 2026, JPMorgan will redeem the notes, paying at least $160 per note (with a face value of $1,000). If the price is below this threshold, the notes will remain outstanding until 2028.
In the latter case, investors can receive returns equal to 1.5 times the increase in Bitcoin’s price, which JPMorgan describes as having "unlimited" potential upside. However, the product carries high risk; if Bitcoin's price falls by 40% or more, investors could lose most of their initial investment.
