Jacobi Bitcoin ETF, from asset manager Jacobi Asset Management, will soon debut as the first Bitcoin spot ETF approved in Europe. This and more news in this handy daily digest to keep you up to date with the latest developments in the crypto world.
Jacobi Bitcoin ETF to be listed on the European market
📍Jacobi Asset Management to launch Europe's first Bitcoin spot ETF The new ETF was approved in 2021 and is expected to debut on the European market in 2022. However, due to the conditions faced by the crypto market due to the collapse of the Terra blockchain ecosystem and the bankruptcy of companies such as Celsius Network, Three Arrows Capital and FTX, its launch was delayed until this year.
As reported by Bitcoin Magazine, a firm launch date for the Jacobi Bitcoin ETF has not yet been set, but it has been learned that this Bitcoin exchange-traded fund will debut soon as the first of its kind in the European market.
The Jacobi Bitcoin ETF will provide European investors with the ability to invest directly in Bitcoin, in a regulated manner and without the need to own or hold the cryptocurrency, making it easier to access and invest in. According to the publication, the launch of this crypto investment product could attract major institutional investors to the Bitcoin and cryptocurrency ecosystem.
The debut of the Jacobi Bitcoin ETF coincides with the recent interest and enthusiasm that Bitcoin has sparked among investors, due to applications that companies such as BlackRock and Fidelity Investments have filed with the SEC to launch a Bitcoin spot ETF on US soil.
New Bitcoin Development Grants Announced
📍OpenSats has announced its first round of grants to support Bitcoin development. The non-profit organization has selected a A dozen projects related to Bitcoin and Lightning Network which will be financed to ensure the growth and expansion of this blockchain ecosystem.
The selected projects seek to improve everything from Bitcoin's privacy to adding support for recurring BTC payments natively, modifying the size of Lightning channels, and integrating zero-knowledge (ZK) technology into the Bitcoin network to improve its scalability and performance.
Among the projects that will be subsidized by the organization are: Payjoin Dev Kit, Bolt12 for LND, Splicing, Raspiblitz, Labelbase, BTCPay Server, ZeroSync, Mutiny Wallet, Next-auth Lightning Provider, Cashu, lnproxy and Blixt Wallet, according to OpenSats through its blog.
US needs to regulate cryptocurrencies, says Cynthia Lummis
📍Senator Cynthia Lummis urges the US Congress to regulate the cryptocurrency industry. The US senator from Wyoming shared her opinion on the recent court ruling by the Southern District Court of New York on the SEC case against Ripple via Twitter.
Lummis applauded the court's decision to "determine that cryptoassets traded on secondary markets may not be investment contracts," ruling that XRP is not a security. The U.S. senator used the occasion to urge Congress to give its approval to the bill which was presented in the middle of last year together with Senator Kirsten Gillibrand and which aims to regulate the crypto industry.
Lummis wants to create a clear regulatory structure for the crypto industry that allows the sector to develop, while establishing clear regulations that guarantee the security of investors and users. “The decision confirms the need for Congress to provide a clear regulatory structure for the crypto industry that provides the highest level of consumer protection,” Indian.
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