Europe introduces the first Bitcoin ETF less than a week after the SEC postponed its judgment.
Jacobi Asset Management has now formally launched Europe’s first Bitcoin Exchange-Traded Fund (ETF) on Euronext Amsterdam, more than a year after its first intended launch.
The Guernsey Financial Services Commission (GFSC) regulates the ETF, which trades under the ticker BCOIN. Fidelity Digital Assets provides custodial services, Flow Traders acts as a market maker, while Jane Street and DRW act as Authorized Participants. Wilshire Indexes provides the FT Wilshire Bitcoin Blended Price Index, which serves as the fund’s benchmark.
Jacobi Asset Management CEO Martin Bednall says, “it is exciting to see Europe moving ahead of the US in opening up Bitcoin investing for institutional investors who want safe, secure access to the advantages of digital assets using familiar and regulated structures like our ETF.” Unlike European debt instruments, our fund controls the asset. Jacobi is proud to have Tier1 partners at the forefront of digital asset market development help it produce a cutting-edge, environmentally sustainable solution for European investors.
The introduction of the Jacobi FT Wilshire Bitcoin ETF represents a significant milestone for the global financial industry as well as a crucial turning point for the digital asset sector, according to Mark Makepeace, CEO of Wilshire Indexes. As a pioneer in the creation of institutional grade digital asset benchmarks, we are enthusiastic about our cooperation with Jacobi and committed to accelerating the development of the whole digital asset ecosystem.
While the first Bitcoin ETF is introduced in Europe, the anticipated listing of one in the US is still being postponed. When the SEC postponed last week’s judgment on whether to accept or reject Cathie Wood’s proposal for an ARK Invest spot Bitcoin ETF, many investors began to wonder when an ETF will actually be issued.