BCOIN is the first spot Bitcoin ETF to debut on the Amsterdam-based pan-European stock exchange Euronext.
Jacobi Bitcoin ETF, a Bitcoin exchange-traded investment fund created by asset manager Jacobi Asset Management, has become the first Bitcoin spot ETF to list on a European exchange.
This Bitcoin spot exchange-traded fund was launched today, August 15, on the Euronext stock exchange, under the ticker “BCOIN.”
In addition to being the first Bitcoin spot ETF in Europe, the Jacobi Bitcoin ETF It is also the first decarbonized cryptocurrency exchange-traded fund which complies with Article 8 of the European Union's Sustainable Finance Disclosure Regulation, the SFDR, and is regulated by the Guernsey Financial Services Commission.
The approval of this Bitcoin exchange-traded fund took place in 2021. However, its launch was delayed until now due to general macroeconomic conditions and crypto industry events that fueled crypto winter 2022.
Europe opens Bitcoin market to investors
With the launch of Jacobi Bitcoin ETF, Europe has taken a step ahead of the United States to open the Bitcoin spot market to investors seeking secure access to the most capitalized and important cryptocurrency on the market and the most robust blockchain network in the world.
BCOIN began trading on the Euronext exchange the week following the decision by the United States Securities and Exchange Commission (SEC) to postpone whether to approve or reject the ETF application submitted by Ark Invest to launch a fund Bitcoin spot price.
Martin Bednall, CEO of Jacobi Asset Management, commented that his listed investment fund will provide secure access to investors interested in the benefits of Bitcoin using regulated structures they are already familiar with.
In addition, the CEO of Jacobi Asset also highlighted that it is a pioneering Bitcoin investment product in the care and protection of the environment. BCOIN provides an innovative and environmentally friendly solution for European investors, Bednall noted.
On the other hand, Wilshire Indexes CEO Mark Makepeace highlighted the importance of the launch of Jacobi Bitcoin ETF to accelerate the development of the digital asset industry. “It is an important milestone for the digital asset industry and a transformative moment for the global financial industry,” he commented.
Jacobi Bitcoin ETF was also launched with the support of the firm Fidelity Digital Assets, as a custody provider, and the firm Flow Traders, as a market maker.
Continue reading: Investors opt for cryptocurrency-based ETFs
