JPMorgan Chase is preparing to launch structured notes linked to the performance of BlackRock's IBIT, offering investors a novel way to gain exposure to Bitcoin's price movements without directly holding the asset. According to a recent filing with the SEC reported by The Block, these derivative-style notes present two potential scenarios: an auto-call option after one year and a maturity option in 2028. The auto-call scenario offers a minimum guaranteed return of 16% if IBIT's price remains above a specified level after the first year. Furthermore, a protection mechanism safeguards the principal, preventing losses unless IBIT declines by more than 30%. However, returns are capped, and investors will incur losses if IBIT's price falls below the 30% threshold. These structured notes provide a potentially attractive option for investors seeking a risk-managed approach to Bitcoin exposure through a BlackRock Bitcoin ETF, albeit with capped upside potential. The 2028 maturity scenario offers a longer-term investment horizon. ```