Europe’s First Bitcoin ETF Finally Launches After Year-Long Delay
Europe’s First Bitcoin ETF Finally Launches After Year-Long Delay
According to the Financial Times, Europe’s first Bitcoin ETF is expected to be publicly listed this month, marking a significant development for the cryptocurrency industry. The delay in launching the Jacobi Bitcoin ETF was attributed to last year’s perception that the timing was unfavorable. Factors such as the Terra Luna May 2022 crypto crash and the November FTX crypto exchange crash likely influenced the decision to postpone the launch. The asset management firm took a cautious approach to ensure optimal market conditions for the ETF’s debut. Jacobi Asset Management made headlines with the announcement of the Jacobi Bitcoin ETF. This groundbreaking ETF received regulatory approval from the Guernsey Financial Services Commission (GFSC) in October 2021, paving the way for its launch. The ETF will be listed on Euronext Amsterdam with the trading code BCOIN. To ensure the smooth operation of the ETF, Jacobi Asset Management has partnered with reputable industry players. Fidelity Digital Assets will provide custody services, ensuring the secure storage of the Bitcoin assets. Additionally, Flow Traders and DRW have been selected as market makers, facilitating the trading of the ETF on the exchange.
