RRUPDATE📍: Europe's First Bitcoin ETF Hits the Market 🇪🇺

Jacobi Asset Management Successfully Lists Europe's First Bitcoin ETF on Euronext Amsterdam

Jacobi Asset Management, a London-based financial firm, has achieved a significant milestone by listing Europe's inaugural spot Bitcoin Exchange-Traded Fund (ETF) on the renowned Euronext Amsterdam exchange. The accomplishment comes after a substantial delay of nearly two years from its initial approval by regulatory authorities.

Known as the Jacobi FT Wilshere Bitcoin ETF, this pioneering investment product falls under the robust regulatory oversight of the Guernsey Financial Services Commission (GFSC).

Its trading symbol on the exchange will be "BCOIN." Fidelity Digital Assets has been entrusted with the fund's custody, while Flow Traders, a prominent trading firm, will operate as the designated market maker. This strategic arrangement is aimed at ensuring a seamless and efficient trading experience for investors, as announced by Jacobi in a recent statement.

The path to this achievement was marked by challenges. Jacobi originally secured approval for the ETF in October 2021, with initial plans to debut it on the market in the following year. However, prudent strategic considerations led the firm to postpone its launch. These considerations were grounded in the prevailing unfavorable conditions within the digital asset market. Specific events, such as the collapse of the Terra ecosystem and the subsequent bankruptcy of the crypto exchange FTX, prompted Jacobi to exercise caution and adjust its timeline.

Unlike the prevalent European landscape of Exchange-Traded Notes (ETNs), Jacobi's offering distinguishes itself as a genuine ETF, embodying ownership of underlying shares rather than a debt security. A notable feature of Jacobi's ETF is its prohibition on leveraging and derivative use, setting it apart from traditional ETNs.

This landmark listing signifies a notable achievement for Europe's financial markets, as it introduces a Bitcoin ETF ahead of the United States. Despite numerous applications submitted to the Securities and Exchange Commission (SEC) in recent years, all such endeavors had been met with rejection.

However, a renewed sense of optimism has emerged within the industry regarding the SEC's potential approval of a spot Bitcoin fund. Notably, asset management behemoth BlackRock (BLK) spearheaded a wave of fresh applications, characterized by "surveillance-sharing" agreements aimed at curbing market manipulation risks.

In conclusion, Jacobi Asset Management's successful listing of Europe's maiden spot Bitcoin ETF stands as a testament to the firm's resilience and dedication in navigating a dynamic and evolving financial landscape.

As investors eagerly anticipate the opportunities this ETF presents, it also marks a pivotal moment in the global financial arena, hinting at the future potential and acceptance of cryptocurrency-based investment vehicles.

As a reminder, this is not a trading signal or investment advice; it is an opinion, and each trader/investor should know and understand the risks of trading cryptocurrencies.

This should not be regarded as financial advice; feel free to familiarise yourself with our NFA disclaimer.

The RR Chat💬 | The R Roundup Announcement Channel📣 | Russian DeFi📍| RR Twitter🐥 | RR Labs Twitter🐥 | Instagram🤳 | Members Library🔒(Contact Admin In Telegram Chat For Signup Form) | Reddit📖 | LinkedIn👨‍💼 | NFA Disclaimer⛔️ | Phantom 🎭 | RR Gumroad🛣️