Europe has marked an important milestone in the field of cryptocurrency investments with the listing of the first spot Bitcoin exchange-traded fund (ETF) on the Euronext Amsterdam stock exchange.
First Spot Bitcoin ETF Listed In Europe
London-based Jacobi Asset Management has successfully launched the Jacobi FT Wilshere Bitcoin ETF nearly two years after its approval, opening new avenues for European investors to access the world of digital assets.
The Jacobi FT Wilshere Bitcoin ETF, regulated by the Guernsey Financial Services Commission (GFSC), will trade under the symbol “BCOIN”.
This landmark event represents a remarkable achievement for Europe's financial landscape as it demonstrates the continent's determination to embrace innovative investment opportunities in the burgeoning cryptocurrency sector.
The ETF's custody services are provided by Fidelity Digital Assets, a trusted name in cryptocurrency custody, while trading firm Flow Traders will act as the designated market maker for the ETF, providing liquidity and smooth trading operations.
Jacobi Asset Management first received approval for the fund in October 2021 and had planned to list the ETF in 2022.
However, due to external factors such as the collapse of the Terra ecosystem and the bankruptcy of cryptocurrency exchange FTX, the company made a strategic decision to delay the launch.
This prudent approach highlights the prudent assessment undertaken by Jacobi in the rapidly evolving digital asset market.
*Not investment advice.