JPMORGAN PREPARES TO LAUNCH PRODUCT LINKED TO BLACKROCK BITCOIN ETF (IBIT) 🔸 This product is a structured note, providing the following benefits: — Minimum 16% profit in 1 year if IBIT reaches target price and product will automatically end early — If IBIT does not reach its target after 1 year, investors will continue to hold the product until 2028 — If IBIT exceeds JPMorgan's target by 2028, investors will earn 1.5x returns and have no cap on returns — Risk protection down to 30%: if IBIT decreases but not more than 30% by 2028, the investor will get back the entire initial Capital — If IBIT decreases by more than 30%, the investor suffers a loss corresponding to the decrease in IBIT 🔸 Why is JPMorgan doing this? Not because they believe in Bitcoin, but because: — They earn fees for releasing and managing products — Keep customers in the banking system, instead of letting them buy BTC themselves — Customers want to invest in Bitcoin with a “safety net”, so banks provide products to meet that need — JPMorgan doesn't need to hold Bitcoin but still benefits from hedging and risk management