- London-based asset manager Jacobi listed Europe’s first spot Bitcoin exchange-traded fund on Euronext Amsterdam.
- Jacobi initially received approval for this ETF in 2021, but delayed listing due to crypto crashes in 2022, such as the collapse of Terra and the Three Arrows crisis.
- The Jacobi FT Wilshere Bitcoin ETF trades under the ticker BCOIN and has a decarbonization plan.
- Europe is listing a Bitcoin ETF ahead of the US, despite a slew of requests from issuers like Blackrock and Fidelity.
London-based asset manager Jacobi has noted Europe’s inaugural spot Bitcoin exchange-traded fund (ETF) two years after the company received regulatory approval.
Jacobi has been approved to list his Jacobi FT Wilshere Bitcoin ETF in Amsterdam in 2021. However, the company delayed its debut until 2023 due to crypto crashes like Terra and Three Arrows Capital that happened last year.
The ETF was launched with Flow Traders as the market-making partner, while Fidelity Digital Assets is responsible for the fund’s custody. Jacobi’s ETF trading under the ticker BCOIN is regulated by Guernsey Financial Services Commission (GFSC).
Unlike other products on the European market that are debt instruments, our fund owns the underlying assets directly. Jacobi is proud to be supported by Tier1 partners who are at the forefront of this evolution of the digital asset market, while also pioneering an innovative, environmentally friendly solution for European investors.”
– CEO of Jacobi Asset Management, Martin Bednal
US Spot Bitcoin ETF Awaits Approval
Jacobi’s launch in Amsterdam means Europe approved and listed a spot Bitcoin ETF ahead of the US, despite clear interest from US issuers.
Indeed, titans like Valkyrie and Fidelity filed a spot Bitcoin ETF with the US Securities and Exchange Commission (SEC). Blackrock led a slew of filings after the company filed its filing in June.
Notably, these filings backed by Blackrock’s filing proposed a surveillance sharing agreement to reduce market manipulation, a major concern cited by the SEC in past spot Bitcoin ETF rejections.
If approved, Bloomberg analyst Eric Balchunas said the US could account for 99.5% of the global trading volume for crypto ETFs.