Bitcoin

Jacobi Asset Management Launches Europe’s First Sustainable Bitcoin ETF On Euronext Amsterdam

Key Points:

Jacobi Asset Management launches Europe’s first Bitcoin ETF on Euronext Amsterdam with a sustainable focus.
ETF integrates a decarbonized approach and verifiable Renewable Energy Certificates.
Fidelity Digital Assets and Flow Traders facilitate environmentally conscious crypto investment.

London-based Jacobi Asset Management has successfully introduced Europe’s inaugural Bitcoin exchange-traded fund (ETF) on the Euronext Amsterdam exchange, securing the go-ahead from the Guernsey Financial Services Commission.

The Jacobi FT Wilshire Bitcoin ETF, marked by the ticker symbol BCOIN, emerges as the continent’s maiden spot Bitcoin ETF.

What sets this ETF apart is its adherence to Article 8 of the European Sustainable Finance Disclosure Regulation, presenting a decarbonized digital asset fund.

In a pioneering move, it incorporates a verifiable Renewable Energy Certificate (REC) solution, aligning investors’ goals with environmental, social, and governance objectives.

Despite initial delays prompted by the Terra ecosystem’s collapse and the FTX crypto exchange’s bankruptcy, the Jacobi FT Wilshire Bitcoin ETF is now in full swing. Managed by Fidelity Digital Assets and served by Flow Traders as market makers, the ETF entails an annual management fee of 1.5%.

This innovative ETF introduces a distinct perspective on environmental sustainability. By quantifying Bitcoin’s energy consumption within the ETF, it procures equivalent RECs as opposed to relying on traditional carbon offsetting mechanisms.

This approach provides transparent blockchain-recorded proof of clean energy utilization.

Custodial services are entrusted to Fidelity Digital Assets, while Flow Traders functions as the ETF’s market maker. Jane Street and DRW, as Authorized Participants, contribute to the fund’s operational structure.

Incorporating years of planning and the recent regulatory green light, Jacobi Asset Management’s debut Bitcoin ETF ushers in a new era for environmentally conscious digital asset investment in Europe’s financial landscape.

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Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.