Europe is ready to see its first Bitcoin Exchange Traded Fund [ETF]. Jacobi Asset Management proclaimed on Thursday that it would put to sea Europe’s first BTC ETF in July on Euronext Amsterdam. Notably, it would trade under the ticker BCOIN.
The Guernsey Financial Services Commission [GFSC] green-lit the launch of the ETF back in October last year. Per a recently issued statement, custodial services will be provided by Fidelity Digital Assets, with Flow Traders and DRW facilitating trading as market makers.
Opining on the to-be-launched ETF, the company’s CEO Jamie Khurshid said,
“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. Our goal at Jacobi is to make digital asset investments simpler and more familiar for institutional and professional investors.
He added,
“We have an ambitious vision and look forward to bringing an innovative product pipeline to the market very soon.”
United by Bitcoin
Jacobi’s launch timeline revelation comes at a time when US SEC rejected Grayscale’s GBTC to Bitcoin ETF conversion application.
People from the crypto space rejoice in Europe’s “positive news.” However, they also started comparing the said scenarios. Drawing parallels between the two, Bitcoin investor and YouTuber Lark Davis mockingly tweeted that America was trying to protect investors by not giving an official nod.
“First Spot Bitcoin ETF approved to launch in Europe in July. Meanwhile Merica is still protecting investors…”
Attorney John Deaton went on to openly state that Gensler was “utterly shameful” of not allowing the “Average Joe” to participate in the ETF market by denying them their preferred investment alternative.
20-year-old Will Clemente, on the other hand, outlined how the whole community was united for the first time. He asserted that the SEC had “poked the wrong nest.”
People from the crypto space are seldom on the same page, and more often than not, they share contrasting stances on different issues. But now, Europe’s Bitcoin ETF approval and Grayscale’s rejection have bound them closer.