Jacobi Asset Management will establish the first Bitcoin ETF on Amsterdam's Euronext.
Jacobi Asset Management will launch a bitcoin ETF in July. Jacobi Bitcoin ETF will be listed on Euronext Amsterdam.
European institutional and professional investors can invest in Bitcoin via the BCOIN ETF for a 1.5% yearly management fee.
Why a Bitcoin ETF?
Jamie Khurshid, a former Goldman Sachs banker, launched Jacobi Asset Management in 2021. The firm has "a broad team of blockchain, technological, investment, and regulatory expertise"
Khurshid said the ETF "would allow investors to access the underlying performance of this interesting asset class" Jacobi seeks to simplify digital asset investing for institutional and professional investors.
Fidelity Digital Assets and Flow Traders are "integral" to the fund, says Jacobi.
Coinbase
Flow Traders' Edd Carlton said the registration of a spot Bitcoin ETF "matched with institutional investors' demand." Years ago, US investors demanded a spot Bitcoin ETF.
Only Canada, Brazil, and Jersey have established spot ETFs, which are substantially smaller than US-based ETFs. Jacobi Bitcoin ETF will be the world's largest spot Bitcoin ETF.
Only 15% to 20% of European retail investors use ETFs, compared to 40% of US investors. The European Commission is considering eliminating ETFs from a consolidated tape because of their lower trading volume.
Allowing a spot Bitcoin ETF in Europe will likely provide pension funds, mutual funds, and insurance firms access to Bitcoin. Given the paucity of traditional Bitcoin investing choices in Europe, a spot Bitcoin ETF could be appealing.
