Jacobi Asset Management has announced that the launch of Europe’s first ever Bitcoin ETF, listed as BCOIN on Euronext Amsterdam, is to take place this month.
This was originally scheduled to take place in 2022, but due to the Terra Luna and FTX collapses last year, Jacobi decided to delay.
After gaining approval from the Guernsey financial regulator in October 2021, the firm is now underway with the launch and has expressed that demand has shifted.
Jacobi CEO Jamie Khurshid further noted that every other European digital asset exchange traded product is structured as an exchange traded note wherein ownership of a debt security on the asset is offered, but not the underlying asset itself.
Euronext CEO Stephane Boujnah commented on this, saying that until now, Europe has not seen any exchange-traded products with transparent structures that afford investors the ability to make informed decisions about the debt and risk exposure they are taking on.
