Anthony Scaramucci Cheers JPMorgan's New Bitcoin-Linked Offering, Says Market Is Missing Scale Of The 'Huge' Milestone

Core Insights - JPMorgan Chase & Co. has initiated a significant move by offering a Bitcoin-backed bond, which has been highlighted as a major milestone in the cryptocurrency space [1][2]. Company Developments - Anthony Scaramucci, founder of SkyBridge Capital, expressed enthusiasm over JPMorgan's offering, emphasizing its importance and questioning the lack of discussion surrounding it [2]. - JPMorgan has filed to offer structured notes that track the price of the iShares Bitcoin Trust ETF, designed for investors seeking a return of 1.50 times any increase in the fund's value at maturity [3]. - The structured notes allow for an early exit if the ETF trades at or above a preset price in December 2026 [3]. Market Context - The iShares Bitcoin Trust ETF is currently the largest cryptocurrency-based fund, with assets exceeding $67 billion [4]. - Despite CEO Jamie Dimon's previous skepticism towards Bitcoin, he has acknowledged the legitimacy of cryptocurrencies and digital assets [5]. - As of the latest data, Bitcoin was trading at $91,092.82, reflecting a 3.73% increase over the last 24 hours [5]. Stock Performance - JPMorgan's shares experienced a 0.31% increase in after-hours trading, closing 1.53% higher at $307.64 during the regular trading session [6].