After a long delay, the first European exchange-traded fund (ETF) on Bitcoin (Bitcoin)bitcoin
) will debut this year. Jacobi Asset Management’s Bitcoin ETF, a London-based multi-asset investment platform, should: For the first time on the Euronext exchange
Amsterdam as early as July 2022.
However, the unprecedented market conditions caused by the collapse of the Terra ecosystem in May 2022 and the bankruptcy of FTX in November, forced the asset manager to defer listing. The Jacobi Bitcoin ETF has received approval from the Guernsey Financial Services Commission (GFSC) to launch the Bitcoin ETF in October 2021.
Asset manager told everyone Finance Times
He said he decided to launch the ETF as he saw a gradual increase in demand compared to 2022. The asset manager told Cointelegraph that the launch is still in the process of being finalized and would like to announce a date soon.
The Jacobi Bitcoin ETF is a centralized oversight, cryptocurrency-backed financial instrument powered by Fidelity Digital Assets, a major evolution from traditional exchange-traded notes (ETNs). in Europe, All traditional financial instruments powered by cryptocurrencies are structured as ETNsnot as a backdrop.
The main difference between an ETN and an ETF is that the shareholder of the ETF owns a portion of the underlying assets of the fund, whereas investors of the ETN own a debt security. Unlike ETNs, ETFs cannot be leveraged or use derivatives that may involve market manipulation risks.
While Europe approved the first spot Bitcoin ETF in October 2021, the US Securities and Exchange Commission (SEC) has so far rejected them all. However, during 2023 alone, nearly six corporate giants, including BlackRock and Fidelity, hoped to send new requests. Get the first approved ETF in the United States
. As you know, the SEC in 2021 already endorsed several futures ETFs
Translation of Walter Rizzo