• Known for his bullish stance on Opendoor, Eric Jackson is launching a derivative product for exposure to companies with cryptocurrency holdings.
• Jackson said $EMJX will be launched in 30 days and will be traded on a major exchange.
• The exact nature of the product was not immediately clear. 

Eric Jackson, the hedge fund manager in the news for his bullish bet on Opendoor, the most-watched meme stock in recent months, is launching a play targeting companies with cryptocurrencies as their treasury.

“A lot of people keep asking if I'm going to buy a crypto treasury company like MSTR, BMNR or ASST. No - because I'm launching $EMJX (@EMJXai) in the next 30 days and I want all my eggs in that basket because it's my baby,” he said in an X post on Sunday.

What's EMJX?

While he indicated that“$EMJX” will have exposure to companies with crypto treasuries and allow people to invest in it, the nature of the derivative product is unclear.

In follow-up replies to the original post, he said EMJX is not an exchange-traded fund (ETF) or an exchange-traded product (ETP), and it will be listed on one of the major U.S. exchanges.

More Firms Bet On Crypto-Treasury

Strategy (MSTR) was the first major firm to adopt the bitcoin treasury plan back in 2020, a move intended to boost the company's stock and treasury holdings as Bitcoin's price rose. 

In recent years, supported by the Donald Trump administration's crypto-friendly stance, several public and private companies, including video game retailer GameStop, have announced plans to convert their assets into cryptocurrencies. 

Strive (ASST) in September said it was buying Semler Scientific (SMLR) for stock, mainly for the latter's roughly 5,000 bitcoins, and adding 5,816 bitcoins (BTC) for $675 million.“This merger cements Strive's position as a top Bitcoin treasury company,” CEO Matt Cole said at the time, in what came as a major backing for the crypto treasury strategy.

Trump's Trump Media & Technology Group held about $2 billion in assets as of July.

Jackson's List

Jackson, whose comments in July sparked a multi-fold rally in Opendoor's shares, has mostly targeted his posts over the recent months to promote the real estate platform. He has also lately made bullish remarks about Better Home & Finance (BETR), Palantir (PLTR), Hut 8 (HUT), and Sana Biotechnology (SANA).

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