Europe to launch first spot bitcoin ETF

In July 2022, the asset will become available to institutional and professional investors on the Euronext Amsterdam exchange

30.06.2022 - 13:50

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What’s new? Jacobi Asset Management has announced the launch of Europe’s spot bitcoin exchange-traded fund, the Jacobi Bitcoin ETF. The Euronext Amerstdam exchange will list the asset under the ticker BCOIN in July 2022. It will be available to institutional and professional investors, with a fee of 1,5% per annum.

Announcement on Jacobi's website

Jacobi Asset Management was founded in 2021. The CEO is Jamie Khurshid, a former Goldman Sachs investment bank employee. The company's management team consists of blockchain, investment and regulatory experts with experience in managing digital assets.

Jacobi's comments. Khurshid said the ETF will allow access to the first cryptocurrency through a trusted investment structure. The company aims to make investing in digital assets easier and popularize it among institutional and professional market players.

According to the Financial Times piece, only 15-20% of investors in Europe use ETFs. In the US, the figure is as high as 40%. Meanwhile, the Securities and Exchange Commission (SEC) has not yet registered a single spot bitcoin ETF. On June 29, asset manager Grayscale sued the SEC after another refusal to register its investment product.

Samsung Asset Management plans to list a blockchain-ETF on the Hong Kong Exchange (HKEX) in 2022. It will be the first registered fund in Asia that tracks cryptocurrencies and blockchain technology.

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