First Spot Bitcoin ETF authorised for debut in Europe during July


Jacobi Asset Management will introduce the first spot Bitcoin ETF on the Euronext market in Amsterdam.

Jacobi Asset Management has stated that it would release a European bitcoin spot ETF in July. The ETF will be known as the Jacobi Bitcoin ETF and will be listed on Euronext Amersfoort.

Institutional and professional investors in Europe will be able to invest in Bitcoin through the BCOIN ETF for a 1.5 percent yearly management fee.

Why a Bitcoin spot ETF?

Jacobi Asset Management was created in 2021 and is run by former Goldman Sachs investment banker and CEO Jamie Khurshid. The company has a history of digital asset management and consists of “a broad team of blockchain, technical, investment, and regulatory specialists.”

The ETF, according to Khurshid, “would allow investors to get exposure to the underlying performance of this interesting asset class via a well-established and reputable investment structure.” Jacobi seeks to “simplify and familiarise digital asset investing for institutional and professional investors.” Jacobi claims that Fidelity Digital Assets and Flow Traders are “integral components” of the fund.

Provision of Bitcoin

Many people in the United States have been pushing for a Bitcoin exchange-traded fund (ETF) that would trade Bitcoin in real-time.

However, the only spot ETFs issued too far are in Canada, Brazil, and Jersey, which are much smaller than the majority of U.S.-based ETFs. The Jacobi Bitcoin ETF is poised to be the largest spot Bitcoin ETF in the world, building on the spot ETFs in smaller markets.

European investors do not have the same selection of ETFs as their American counterparts; about 15% to 20% of European retail investors utilise ETFs compared to 40% of their American counterparts. As a consequence, the trading volume of ETFs in Europe has decreased, and the European Commission is contemplating their removal from a consolidated tape.

Nevertheless, the decision to authorise a spot Bitcoin ETF in Europe will certainly provide pension funds, mutual funds, and insurance firms with a previously unavailable entry point into Bitcoin. Given the absence of conventional investment alternatives for Bitcoin, it is possible that a spot Bitcoin ETF would be immensely popular in Europe.

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