The long-awaited Bitcoin exchange-traded fund (ETF) in Europe is set to debut later this year. The ETF, which is handled by Jacobi Asset Management, was supposed to debut on the Euronext Amsterdam platform in 2022. However, unexpected market obstacles, such as the failures of the Terra ecosystem and FTX, caused the listing to be delayed.
With a progressive shift in demand since last year, Jacobi Asset Management has chosen to press forward with the Bitcoin ETF launch. The business is currently determining the precise start date and will give an update as soon as possible.
The Jacobi Bitcoin ETF’s novel structure distinguishes it from others. Unlike conventional crypto-backed securities such as exchange-traded notes (ETNs), this ETF is a centrally regulated instrument with safekeeping provided by Fidelity Digital Assets. This modification grants investors direct ownership of some of the fund’s fundamental assets. This essentially means that it provides greater security and transparency.
It should be noted that Europe approved its first Bitcoin ETF in 2021. It was a big step forward for the blockchain industry. In contrast, the Securities and Exchange Commission (SEC) of the United States has dismissed all planned spot Bitcoin ETFs.
BREAKING: 🚀🚨After a year-long delay, Jacobi Asset Management's #BitcoinETF is set to debut in 2023. 🌍
— Walletor (@walletorapp) July 13, 2023
Nonetheless, several major institutional investors, including BlackRock and Fidelity, have filed new applications for spot Bitcoin ETFs. They did this with the expectation that they would be the first to get authorization from the SEC in the United States.
The introduction of the Jacobi Bitcoin ETF in Europe is a significant step forward for the crypto industry. This new alternative allows investors to acquire a regulated view of Bitcoin’s potential. As the market anticipates its official launch, industry analysts will keep a careful eye on the ETF’s performance.
In conclusion, Europe’s first Bitcoin ETF is likely to start in 2023, after a delay caused by market issues. This novel ETF structure provides investors with direct ownership of the fundamental assets. While Europe is accepting the idea of spot Bitcoin ETFs, the United States has yet to do so. The introduction of this ETF in Europe represents a big step toward popular adoption of Bitcoin and other cryptocurrencies.