The First European Spot Bitcoin ETF Will Debut In July!

The First European Spot Bitcoin ETF Will Debut In July!

A European spot bitcoin ETF will be introduced in July, according to a statement from Jacobi Asset Management. The Jacobi Bitcoin ETF will be the name of the exchange-traded fund, which will be listed on Euronext Amerstdam.

For a 1.5% yearly management fee, institutional and professional investors in Europe will be able to purchase Bitcoin through the ETF using the ticket BCOIN.

CEO Jamie Khurshid, a former investment banker at Goldman Sachs, launched Jacobi Asset Management in 2021. The company has experience in managing digital assets and is made up of “a diverse team of blockchain, technology, investment, and regulatory experts.”

According to Khurshid, the ETF “will enable investors to access the underlying performance of this exciting asset class via a well-established and trusted investment structure.”  Jacobi wants to “make digital asset investments simpler and more familiar for institutional and professional investors.”

Fidelity Digital Assets and Flow Traders are apparently a “integral part” of the fund, according to Jacobi.

A spot Bitcoin ETF’s launch, according to Edd Carlton, an institutional digital asset trader at Flow Traders, “aligned with the growing demand from institutional investors.” In the US, there have been calls for a spot Bitcoin ETF for many years.

But just three foreign exchange-traded funds (ETFs) have been introduced thus far, and they are all substantially smaller than the majority of US-based ETFs. The Jacobi Bitcoin ETF will be the largest spot Bitcoin ETF in the world, building on the spot ETFs in smaller markets.

In general, European investors do not have access to as many ETFs as US investors do; about “15 to 20% of retail investors in Europe use ETFs compared to about 40% of their US counterparts,” according to research. ETF trading volume has decreased as a result, and the European Commission is thinking about removing them from a consolidated tape.

However, the decision to permit a spot Bitcoin ETF in Europe would probably open up a previously closed channel of entry for organizations like pension funds, mutual funds, and insurance firms. Given the lack of alternatives for investing in Bitcoin through conventional channels, a spot Bitcoin ETF may become quite popular in Europe.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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