Europe’s First Bitcoin ETF Finally Launches After Year-Long Delay

Key Points:

• Europe’s first Bitcoin ETF will soon be publicly listed, marking a significant milestone for the cryptocurrency industry.
• Jacobi Asset Management received regulatory approval to launch the Bitcoin ETF on Euronext Amsterdam with the trading code BCOIN.
• Fidelity Digital Assets will provide custody services, ensuring secure storage of the Bitcoin assets.

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.

Jacobi Asset Management, the asset management firm behind the ETF, initially announced its plans to list the Bitcoin ETF on Euronext Amsterdam in July 2022. However, the launch was delayed due to concerns about market timing.

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.

The launch of Europe’s first Bitcoin ETF signifies a significant milestone in the mainstream adoption of cryptocurrencies. ETFs provide investors with a regulated and convenient way to gain exposure to Bitcoin’s price movements without directly owning the digital asset. The introduction of such products opens up opportunities for both institutional and retail investors to participate in the cryptocurrency market.

As the launch of the Jacobi Bitcoin ETF approaches, investors and market participants eagerly anticipate the potential impact on the broader financial landscape. The ETF’s success and investor response will likely shape future developments in the cryptocurrency ETF space and contribute to the evolving regulatory environment surrounding digital assets.

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