JPMorgan Chase has announced a new derivative-style investment tied to BlackRock’s massive iShares Bitcoin Trust (IBIT), giving investors a chance at major gains without directly holding crypto. The proposal, filed with the SEC, lets investors benefit if IBIT dips over the next year but surges by 2028—a structure many see as bullish for long-term Bitcoin confidence.
The notes set a target price for IBIT next month. Should IBIT meet or exceed that level in a year, the product automatically pays investors a minimum 16% return. If the price falls short, the investment continues until 2028. A strong Bitcoin rally by then could reward buyers with unlimited upside at 1.5x gains, while offering full principal protection as long as IBIT isn’t down more than 30%.
The move highlights Wall Street’s increasing embrace of crypto-linked products. JPMorgan’s offering follows similar structures from Morgan Stanley and underscores shifting attitudes in traditional finance toward Bitcoin’s long-term potential.