JP Morgan has launched a new investment product linked to the price of Bitcoin, offering leveraged exposure through the iShares Bitcoin Trust (IBIT) ETF by BlackRock. This structured note provides potential gains with partial downside protection and is set to mature by late 2026 or 2028, contingent on IBIT's performance. The launch follows JP Morgan analysts' criticism of MicroStrategy's aggressive Bitcoin acquisition strategy, raising concerns about shareholder dilution. Additionally, a recent JP Morgan report is speculated to have influenced a Bitcoin price drop on October 10, 2025, amid fears of MSCI reclassifying firms with significant digital asset exposure.