Asset manager Jacobi Asset Management announced today that in July of this year it will bitcoin (BTC) mockery ETF, or stock exchange fund, will be launched on the Euronext Amsterdam stock exchange. This will be the first bitcoin spot ETF in Europe that will provide investors with an easy way to gain exposure to the king of cryptocurrencies, which reports Reuters†
Bitcoin spot ETF
Jacobi Asset Management is a fairly new company. It was founded in 2021 by Jamie Kurshid. He previously worked at the American investment bank Goldman Sachs. Jacobi Asset Management says it has a strong focus on digital assets, including of course cryptocurrencies†
According to Kurshid, the new ETF on the Euronext Amsterdam will ensure that European investors can finally gain exposure to bitcoin in a trusted way. In the case of a spot ETF, that is also direct exposure, because the value of the ETF is directly linked to the value of bitcoin. This is not the case, for example, with a futures ETF.
“The Jacobi Bitcoin ETF will give investors access to the underlying performance of this exciting asset class through an established and trusted investment structure,”
Jacobi Asset Management also receives help from a number of big names in managing and launching the listed fund. Among others, Fidelity, one of the largest asset managers in the world, and the Dutch Flow Traders will assist Jacobi Asset Management. According to Kurshid, they will even play an ‘integral role’ within the new bitcoin spot ETF.
Institutional adoption of bitcoin
According to Edd Carlton, an analyst at Flow Traders, it is logical that Jacobi Asset Management, among others, are now taking the step to list a bitcoin spot ETF. This is because there is an ever-growing interest in bitcoin by institutional investors.
However, Bitcoin spot ETFs are still scarce on the stock exchanges worldwide. This will be the first true bitcoin spot ETF in Europe and, despite high demand, there are still no bitcoin spot ETFs in the United States. Only in Canada, Brazil and Australia Bitcoin spot ETFs are already tradable on the exchange.