• Jacobi Asset Management is ready to launch Europe’s first Bitcoin ETF on Euronext Amsterdam in July.
• The launch was initially delayed due to terra (LUNA) crash and FTX’s collapse.
• BlackRock Inc. refiled paperwork with the SEC for its own spot bitcoin ETF, including submissions with Coinbase Global providing monitoring.
Europe’s First Bitcoin ETF Launches After Delaying For A Year
Jacob Asset Management Ready To Launch In Europe
Jacob Asset Management, a London-based asset investment platform, is set to launch Europe’s first bitcoin exchange-traded fund (ETF) after a year of delays. Initially approved by the Guernsey Financial Services Commission (GFSC) in October 2021, the fund was originally planned to list on Euronext Amsterdam in July 2022 but was postponed due to market conditions at the time.
Monitoring From Coinbase Global
At the same time, spot bitcoin ETFs in the United States are still being reviewed. BlackRock Inc., one of many American firms attempting to release their own ETF, recently refiled paperwork with US regulators that included submission of new documents detailing Coinbase Global would provide monitoring services for crypto marketing surveillance – believed to be a missing piece for gaining approval from the SEC for these types of funds.
Structural Differences Of An ETN Versus An ETF
The Jacobi Bitcoin ETF will be centrally cleared and supported by Fidelity Digital Assets and is designed differently from an exchange-traded note (ETN), which cannot use derivatives or be leveraged – though both are very similar apart from some structural differences.
Demand Shifts To Get Fund Back On Track
Demand has shifted enough for this fund to get back on track and ready for it’s anticipated July launch date on Euronext Amsterdam as Europe’s first bitcoin exchange traded fund (ETF).
Final Thoughts
Overall, this news is great for those who have been waiting patiently for a European bitcoin ETF as well as those who were beginning to lose hope that it wouldn’t happen anytime soon. With Blackrock Inc.’s recent filings hopefully signaling progress towards getting an approved spot bitcoin ETF in the US too, there appears to be good news ahead!