Catenaa, Sunday, November 30, 2025- JPMorgan Chase has filed with US regulators for a leveraged structured note tied to BlackRock’s iShares Bitcoin Trust, offering investors the potential to earn amplified returns on Bitcoin gains through 2028.
The proposed product allows investors to earn 1.5 times any gains of the Bitcoin ETF if the price surges by late 2028.
If the ETF’s value reaches a preset level by December 21, 2026, JPMorgan would call the notes, guaranteeing a minimum payout of $160 per note, originally priced at $1,000 each.
If the price falls below that mark, the notes would remain active until 2028, offering “uncapped” potential returns should Bitcoin soar.
The filing also warns of substantial risk: a severe price drop of 40% or more could result in significant losses for investors.
The notes follow a pattern common in leveraged ETFs, amplifying both potential gains and losses, with Bitcoin’s historical volatility cited as a key factor affecting outcomes.
BlackRock’s Bitcoin ETF, the most popular SEC-approved BTC fund, currently manages $69 billion in assets.
JPMorgan’s proposal is the latest example of financial instruments tied to cryptocurrency performance, reflecting broader interest from traditional finance in digital assets despite the bank’s historically cautious stance.
Separately, JPMorgan and Coinbase plan to enable Chase customers to link bank accounts directly to crypto wallets starting in 2026, allowing seamless conversions and expanding access to digital finance.
The leveraged note product underscores the bank’s ongoing shift toward incorporating cryptocurrencies and blockchain technologies into mainstream offerings.
