The London-headquartered Jacobi Asset Management has
introduced Europe’s first spot Bitcoin exchange-traded fund (ETF) on Euronext
Amsterdam. The company obtained approval in 2021 but delayed the launch
reportedly due to unpredictable circumstances in the digital asset space.
Dubbed the Jacobi FT
Wilshere Bitcoin ETF, the offering will be regulated by the Guernsey Financial
Services Commission (GFSC). Listed under the ticker symbol ‘BCOIN’, the ETF’s custody
is managed by Fidelity Digital Assets, while trading firm Flow Traders assumes
the role of market maker.
The launch positions
Europe ahead of the US in approving the first spot
Bitcoin ETF, a step expected
to potentially facilitate the adoption of Bitcoin among institutional
investors. In a statement, Jacobi Asset Management highlighted the capacity of
the ETF to grant institutional clients secure exposure to digital assets in a
regulated manner.
Martin Bednall, the CEO
of Jacobi, said in a statement shared with Finance Magnates: “It is
exciting to see Europe moving ahead of the US in opening up Bitcoin investing
for institutional investors who want safe, secure access to the benefits of
digital assets using familiar and regulated structures like our ETF.”
“Unlike other
products in the European market which are debt instruments, our fund owns the
underlying asset directly. Jacobi is proud to be supported by tier 1 partners
at the forefront of this digital asset market evolution whilst also pioneering
an innovative, environmentally sound solution for European investors,” he
added.
ESG Standards
Additionally, Bednall
noted the alignment of the fund to the Environmental,
Social, and Governance (ESG)
standards. Jacobi FT Wilshere Bitcoin ETF quantifies the electricity
consumption linked to Bitcoin within the ETF. This approach is reportedly
accompanied by the procurement of Renewable Energy Certificates (RECs), which validate
the utilization of clean energy.
In 2021, Jacobi Asset
Management obtained approval for the spot Bitcoin ETF from the Guernsey
Financial Services Commission (GFSC). The regulatory approval reportedly
enables the company’s investors to trade the fund across a range of traditional
stock markets.
Elsewhere, the US
Securities and Exchange Commission (SEC) recently postponed the decision regarding the approval for a
spot Bitcoin ETF
application by Cathie
Wood’s Ark Investment Management. In recent times the SEC has turned down
numerous requests by asset management firms for the fund in the US.
The basis for the
rejections revolved around concerns regarding insufficient monitoring in
trading activities that could lead to fraud and manipulations. In contrast, the
Australian market watchdog has already granted approval for the spot
exchange -traded funds (ETFs) for Bitcoin and Ether.
The London-headquartered Jacobi Asset Management has
introduced Europe’s first spot Bitcoin exchange-traded fund (ETF) on Euronext
Amsterdam. The company obtained approval in 2021 but delayed the launch
reportedly due to unpredictable circumstances in the digital asset space.
Dubbed the Jacobi FT
Wilshere Bitcoin ETF, the offering will be regulated by the Guernsey Financial
Services Commission (GFSC). Listed under the ticker symbol ‘BCOIN’, the ETF’s custody
is managed by Fidelity Digital Assets, while trading firm Flow Traders assumes
the role of market maker.
The launch positions
Europe ahead of the US in approving the first spot
Bitcoin ETF, a step expected
to potentially facilitate the adoption of Bitcoin among institutional
investors. In a statement, Jacobi Asset Management highlighted the capacity of
the ETF to grant institutional clients secure exposure to digital assets in a
regulated manner.
Martin Bednall, the CEO
of Jacobi, said in a statement shared with Finance Magnates: “It is
exciting to see Europe moving ahead of the US in opening up Bitcoin investing
for institutional investors who want safe, secure access to the benefits of
digital assets using familiar and regulated structures like our ETF.”
“Unlike other
products in the European market which are debt instruments, our fund owns the
underlying asset directly. Jacobi is proud to be supported by tier 1 partners
at the forefront of this digital asset market evolution whilst also pioneering
an innovative, environmentally sound solution for European investors,” he
added.
ESG Standards
Additionally, Bednall
noted the alignment of the fund to the Environmental,
Social, and Governance (ESG)
standards. Jacobi FT Wilshere Bitcoin ETF quantifies the electricity
consumption linked to Bitcoin within the ETF. This approach is reportedly
accompanied by the procurement of Renewable Energy Certificates (RECs), which validate
the utilization of clean energy.
In 2021, Jacobi Asset
Management obtained approval for the spot Bitcoin ETF from the Guernsey
Financial Services Commission (GFSC). The regulatory approval reportedly
enables the company’s investors to trade the fund across a range of traditional
stock markets.
Elsewhere, the US
Securities and Exchange Commission (SEC) recently postponed the decision regarding the approval for a
spot Bitcoin ETF
application by Cathie
Wood’s Ark Investment Management. In recent times the SEC has turned down
numerous requests by asset management firms for the fund in the US.
The basis for the
rejections revolved around concerns regarding insufficient monitoring in
trading activities that could lead to fraud and manipulations. In contrast, the
Australian market watchdog has already granted approval for the spot
exchange -traded funds (ETFs) for Bitcoin and Ether.
