Europe's First Bitcoin Spot ETF Announced To Be Launched This Month

Europe's first Bitcoin exchange-traded fund (ETF) is expected to go public this month, 12 months after its planned launch.

According to the news published by the FT, Jacobi Asset Management first announced that the Bitcoin ETF will be listed on Euronext Amsterdam in July 2022. But now he says the fund's launch this month is “according to plan,” after he decided “the time wasn't right” last year following the Terra crash in May 2022 and the collapse of cryptocurrency exchange FTX in November.

The asset manager said that “demand has changed since last summer.”

All digital asset products traded on the stock exchange in Europe so far have been structured as exchange-traded notes rather than funds.

Jacobi said his ETF, unlike ETNs, cannot be leveraged or use derivatives, otherwise it may introduce “significant counterparty risk.”

Net flows to European digital asset ETPs in the last 18 months totaled $483 million, including $398 million in inflows in the third quarter of 2022 alone, according to data from Coinbase and Bloomberg.

*Not investment advice.