On Thursday, an investment company Jacobi Asset Management announced that it would launch a Bitcoin Exchange-Traded Fund (ETF) on the Euronext Amsterdam Exchange, the leading pan-European marketplace, in July.
The new Fund is named the Jacobi Bitcoin ETF and will trade under the ticker BCOIN. The product will allow investors to gain indirect exposure to the performance of Bitcoin. As reported by BusinessWire, the Jacobi Asset Management CEO, Jamie Khurshid, said, “The first listed crypto ETF in the EU is indeed a proud achievement, and we are happy that we were able to assist. Jacobi Asset Management to achieve this goal.”
The Jacobi Bitcoin ETF
Jacobi said it partnered with other firms, including Flow Traders and Fidelity Digital Assets, the crypto arm of leading asset management company Fidelity Investments, to launch the new ETF. It received regulatory approval from the Guernsey Financial Services Commission (GFSC) in October 2021 and will begin trading in July on the Euronext Amsterdam Exchange under the ticker BCOIN.
Fidelity Digital Assets will provide custodial services, while Flow Traders – a leading global market maker and proprietary trading firm – alongside DRW – a diversified trading firm – will act as market makers to facilitate trading.
“The Jacobi Bitcoin ETF will enable investors to access the underlying performance of this exciting asset class via a well-established and trusted investment structure,” said Jamie Khurshid, CEO of Jacobi. He said, “Our goal at Jacobi is to make digital asset investments simpler and more familiar for institutional and professional investors. We are delighted to be working with all our premier partners, including Fidelity Digital Assets and Flow Traders, who have supported us from inception and are an integral part of this European first as we list on Euronext Amsterdam.”
Adding to their announcement, Jamis noted that launching its Bitcoin ETF is a significant step forward for the company. The ambitious vision and look forward to bringing an innovative product pipeline to the market is another milestone in developing the institutional digital assets space.
“Flow Traders has been a longstanding supporter of enabling exposure in digital assets, and we are delighted to be working with Jacobi Asset Management on this launch as it aligns with the growing demand from institutional investors who are looking to diversify their portfolios by adding Bitcoin and other digital assets,” commented Edd Carlton, Institutional Digital Asset Trader at Flow Traders.
Jacobi also noted that the independent Dutch law firm Kennedy Van der Laan facilitated legal support through the regulatory and listing process. Emanuel van Praag, Attorney from Kennedy Van der Laan, commented: “The first listed crypto ETF in the EU is indeed a proud achievement, and we are happy that we were able to assist Jacobi Asset Management to achieve this goal.”
Jacobi Asset Management will provide European institutional and professional investors access to the Jacobi Bitcoin ETF via a simple investment vehicle for a 1.5% annual management fee.
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