Jacobi Asset Management introduced the spot ETF for Bitcoin in the Euronext Amsterdam exchange in a landmark moment for the EU and the crypto space.
Days after news floated of the European Union’s first spot ETF for crypto, it has become a reality. Jacobi Asset Management has launched the exchange-traded fund (ETF) at the Euronext Amsterdam exchange. The investment firm had delayed the launch by a year for various reasons.
Crypto industry stakeholders welcomed the development, which could help the crypto market as well. The first spot Bitcoin ETF for the European Union, the Jacobi FT Wilshire Bitcoin ETF, has marked history .
The regulator, Guernsey Financial Services Commission, approved the spot ETF in 2021. Fidelity Digital Assets will be the handler of the custodial aspects of the ETF. Jacobi claimed the ETF to be a green fund, which is trading as BCOIN. It is going to follow the many environmental guidelines of the European Union.
“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 benefits of digital assets using familiar and regulated structures like our ETF. Unlike other products in the European market, which are debt instruments, our fund owns the underlying asset directly,” said Jacobi’s CEO, Martin Bednall.
The ETF could benefit investors of the European Union tremendously. They would be able to safely invest in crypto, while avoiding direct exposure.