JPMorgan Leans Into Solana, Nvidia Expands Prediction Market Possibilities & More

Welcome back!

This is J264G and this week I’ve got these titbits for you:

• Solana Conviction: JPMorgan highlights Solana in its latest shareholder letter.

• Prediction Bond: Marex launches Nvidia-linked prediction market bond. 

• Bank Charter: Citadel-backed EDX Markets seeks bank charter. 

BlackRock launching a Bitcoin ETF was loud—Jamie Dimon quietly reversing course on crypto and circling prediction markets is deafening.

Now, let’s jump right into this week’s newsletter!

Click on any underlined heading/hyperlink to learn more.

Spotlight

Distribution Destiny

Crypto users want sovereignty. 

Retail users want safety. 

Most crypto platforms look at that problem and decide to serve both audiences from a standing start. 

That has been failing for more than a decade. 

The smarter move is sequencing. Start with the crypto natives. Go deep, go hard, go sovereign. Build the reputation, stress test the infrastructure, and let the power users break everything worth breaking. That's not a niche play. That's product development with an actual feedback loop, as the crypto-native audience is the most demanding QA team in finance.

Then, once the rails are proven, the hardest part begins: letting go of the crypto-only identity. That isn't a betrayal. It's a rite of passage. Every technology that ever reached scale went through this exact moment. The internet didn't win by leading with TCP/IP. It won by burying it. Blockchain infrastructure is faster, cheaper, and more programmable than anything the incumbents are running on, and that matters enormously. But a retail consumer who just wants to send money to their landlord doesn't know that, and expecting them to care is the wrong fight. The product that wins at retail wraps that infrastructure in an experience so intuitive and familiar that the technology underneath becomes invisible. Users don't need to know what's powering it. They just need to trust it. And trust, unlike ideology, scales.

But let's be clear about what this means. The moment crypto platforms step out of their bubble, they enter the real market with everyone else—no special treatment. They’re just like any other company competing for attention and trust alongside Apple, Meta, JPMorgan, and Robinhood. 

Which means welcome to the real game, where the playbook has one distinct warning: the graveyard of great products is full of companies that confuse technical superiority with market dominance.

The companies that understand this are racing to own the audience before the audience needs them. That's why Larry Ellison is bankrolling CNN and CBS. That's why Sam Altman bought TBPN. And that's why Jamie Dimon is looking to establish a content operation because, as he put it, media's the great influencer.

Bottom line: distribution is won at the top of the funnel. And the top of the funnel isn’t your 𝕏 account, your LinkedIn profile, or your latest Instagram and TikTok dopamine hit. It’s a media platform you own—because rented land is where brands go to die.

Chart Of The Week

News Bites

Solana Conviction: In its latest shareholder letter, JPMorgan Chase states that the market for tokenised real-world assets could reach $13tn by 2030. The bank also once more highlighted that Galaxy Digital completed the first US commercial paper issuance on Solana in 2025. 

Bank Charter: EDX Markets has applied for a US national trust bank charter with the Office of the Comptroller of the Currency. The crypto exchange, backed by Citadel Securities, Fidelity Investments, and Charles Schwab, is seeking to expand into institutional custody, asset management, and trading services.

Onchain IPO: France is set to host the first onchain IPO in Europe, with ST Group scheduled to list on 9 April. The shares will be issued via the Lise exchange, a venue designed to support tokenised securities. 

Bitcoin Bond: The New Hampshire Business Finance Authority is preparing to issue what it describes as the first municipal bond backed by Bitcoin. The instrument, which blends a traditionally low-risk structure with exposure to a volatile digital asset, has received a Ba2 rating from Moody’s.

Prediction Bond: London-based Marex Group has launched a structured product tied to an Nvidia-linked prediction market. The bond offers a 7% return if Nvidia remains the world’s largest company by market capitalisation over the next year, while returning the principal if the condition is not met.

Sport Predictions: A US federal appeals court has ruled that New Jersey regulators cannot block residents from accessing sports-related event contracts on Kalshi. The court determined that oversight of such contracts falls under the exclusive jurisdiction of the CFTC.

Themed Investments: Cesto has introduced a set of themed investment baskets spanning cryptocurrencies, tokenised equities, yield strategies, and prediction markets. The product enables users to allocate capital across pre-constructed portfolios through a single transaction, with assets delivered directly to self-custodial crypto wallets.

Caught In 4K

Weekly Take

Keks & Giggles

And that's a wrap!

You can reach me anytime over on 𝕏 or drop me a line. 

Talk soon!

J264G

_{DISCLAIMER
None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research. Lastly, please be advised that we discuss products and services from our partners from which our team members may hold tokens/equity.}