First Spot Bitcoin ETF approved to launch in Europe in July

Jacobi Asset Management has announced that it will launch a European Spot Bitcoin ETF in July this year. The listed investment trust is named Jacobi Bitcoin ETF and will be listed on Euronext Amerstdam.

European institutional and professional investors can invest in Bitcoin via ETFs with an annual management fee of 1.5% under Ticket BCOIN.

Why Spot Bitcoin ETFs?

Jacobi Asset Management was founded in 2021 and is headed by Jamie Khurshid, a former Goldman Sachs investment banker and CEO. The company is made up of a diverse team of blockchain, technology, investment and regulatory experts with a history of digital asset management.

Khurshid commented that ETFs “give investors access to the basic performance of this exciting asset class through an established and reliable investment structure.” Jacobi aims to “make investing in digital assets simpler and more familiar to institutional and professional investors.”

According to Jacobi, Fidelity Digital Assets and Flow Traders are reported to be “an integral part” of the fund.

Access to Bitcoin

Edd Carlton, an institutional digital asset trader at FlowTraders, claimed that the list of Spot Bitcoin ETFs “is in line with growing demand from institutional investors.” Spot Bitcoin ETF requests have been made in the United States for many years.

However, so far, Canada is the only spot ETF to be launched. BrazilWhen Jersey, This is much smaller than most US-based ETFs. Built on the basis of Spot ETFs in the small market, the Jacobi Bitcoin ETF will be the largest Spot Bitcoin ETF in the world.

Overall, European investors Not the same kind ETFs as US Investors “15% and 20% of individual European investors use ETFs, compared to about 40% of US investors.” As a result, the European Commission considers In Europe, where ETFs are trading, ETF trading volumes are low. delete They from the integrated tape.

Nonetheless, the move to allow Spot Bitcoin ETFs in Europe could give institutions such as pension funds, investment trusts and insurance companies a way to Bitcoin that is currently unavailable. Given that there are no alternative options for investing in Bitcoin by traditional means, Spot Bitcoin ETFs can be very popular in Europe.