Fintech

JPMorgan wants to launch a basket of stocks for bitcoin-friendly traders

MicroStrategy, Square, NVIDIA and PayPal will be among the basket’s top constituents

While JPMorgan’s analysts have been outspoken about the advantages of bitcoin as a form of 'digital gold', the bank has been more cautious about trading the assets themselves
While JPMorgan’s analysts have been outspoken about the advantages of bitcoin as a form of 'digital gold', the bank has been more cautious about trading the assets themselves Photo: Getty Images

JPMorgan is seeking permission to launch a basket of stocks with exposure to cryptocurrencies, in a move that would avoid the brunt of volatile bitcoin prices.

The Wall Street investment bank has filed a proposal for a “cryptocurrency exposure basket” which would track 11 publicly-traded stocks involved in bitcoin and other digital assets, documents filed with the US Securities and Exchange Commission showed.

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