JPMorgan Chase has launched a structured note linked to BlackRock's Spot Bitcoin ETF (IBIT), aligning with BTC's four-year halving cycle. If IBIT reaches or exceeds a set price by the end of 2026, investors will receive a guaranteed return of at least 16%; if the price falls below the set value, the note will extend to 2028, offering potential for amplified returns. The note provides downside protection: if IBIT falls by no more than 30% by 2028, investors can recover their principal; if the decline exceeds 30%, losses will be proportional to the decline. This product is suitable for investors bullish on BTC's cyclical trend, but the associated risks should be noted. (CoinDesk)