Europe’s First Spot Bitcoin ETF Launches in Amsterdam

London-based Jacobi Asset Management has made history by listing Europe’s first spot bitcoin exchange-traded fund (ETF) on Euronext Amsterdam. Here’s what you need to know:

An Innovative Launch: Jacobi FT Wilshere Bitcoin ETF

• ETF Name: Jacobi FT Wilshere Bitcoin ETF.
• Ticker Symbol: It trades as “BCOIN.”
• What Makes It Special: It’s the first of its kind in Europe, allowing people to invest in Bitcoin more directly.

 It was regulated by the Guernsey Financial Services Commission (GFSC), with Fidelity Digital Assets providing custody for the fund, and trading firm Flow Traders acting as the market maker.

Why was it delayed?

• Original Plan – Even though it was approved in October 2021, Jacobi intented to list in 2022.
• Why was it pushed back? The collapse of the Terra ecosystem and the bankruptcy of crypto exchange FTX, prompted the firm to delay the listing.

A First of its Kind in Europe

Unlike the more common exchange-traded notes (ETNs) in Europe, this ETF allows shareholders to own a portion of the underlying bitcoin shares. Furthermore, Jacobi’s ETF cannot be leveraged or use derivatives, unlike ETNs. This offers a unique investment opportunity and increases the allure for those interested in a more secure form of Bitcoin investment.

Europe Beats the US

Interestingly, Europe’s embrace of a spot bitcoin ETF has outpaced the U.S., where dozens of applications to the Securities and Exchange Commission (SEC) have been rejected over the last few years. This may change soon, however, as BlackRock’s flurry of new applications featuring “surveillance-sharing” agreements may pave the way for similar products in the U.S.

The listing of the Jacobi FT Wilshere Bitcoin ETF may signify a turning point in the digital asset investment landscape. By offering a spot bitcoin ETF, Jacobi has introduced an investment vehicle that bridges traditional finance with the burgeoning world of cryptocurrencies