Finally the time has come; the first Bitcoin (BTC) mockery ETF launched in Europe. Some time ago was already known that Jacobi Asset Management has received the green light from the European regulators, but now the time has come for the listed fund to actually be tradable. A great moment for crypto investors not only in Europe but around the world.
Also Bitcoin ETFs exchange traded fundsare funds that can be bought like stocks on the stock exchange. In the case of a bitcoin spot ETF, this essentially means that investors can invest directly in bitcoin without having to create accounts on exchanges or go through any complicated steps purses must start.
It opens the gates for traditional investors to also participate in the crypto market. The asset manager Jacobi Asset Management is now offering such a Bitcoin ETF on the Euronext exchange in Amsterdam. The ticker The exchange fund is BCOIN and has its official name: Jacobi FT Wilshire Bitcoin ETF.
Jacobi received approval from European regulators back in 2021, but due to the collapse of the Terra (LUNA) ecosystem and the drama surrounding crypto exchange FTX, the actual launch has been delayed for a long time.
A catalyst for Bitcoin adoption
Jacobi also works with other companies to facilitate trading in the stock exchange fund. For example, the giant asset manager Fidelity is responsible for storing the bitcoins, and the Dutch company Flow Traders has been commissioned to do this market maker.
Jacobi Asset Management CEO Martin Bednall had this to say to start:
“This fund aims to provide institutional investors with easy, secure and transparent access to Bitcoin while also meeting their sustainability requirements. We believe this ETF launch will be the catalyst for institutional adoption of digital assets.”
Now you have to wait for Bitcoin ETFs in the US market. A large number of applications were filed here with the USA Securities and Exchange Commission (SEC), but no decision has yet been made. If Bitcoin spot ETFs also get the green light here, this could boost the BTC price significantly.