Euronext Amsterdam Launches First Bitcoin ETF

- Article Top Advertisement -

The Dutch platform of the European stock exchange Euronext for the first time in its practice begins trading in shares of an exchange-traded fund for bitcoin.

- Article Inline Advertisement 1-

The ETF is being launched by London-based digital asset management platform Jacobi Asset Management. The Spot Bitcoin ETF will begin trading on the Euronext Amsterdam exchange under the ticker BCOIN.

According to Jacobi CEO Jamie Khurshid, the product is billed as the first Bitcoin ETF of its kind on the continent:

“This is the first physical backed Bitcoin fund. There are other exchange-traded products in Europe, but no spot BTC ETFs.”

- Advertisement -

Euronext CEO Stephane Boujnah has announced that BCOIN will be the first Bitcoin ETF listed on their exchange. All other existing products in this segment are exchange-traded notes (ETN) or are structured as debt instruments. The ETF should appear in July, there is no exact launch date yet.

Jacobi received approval from the Guernsey Financial Services Commission (GFSC) back in October last year. Custodial services for the Jacobi Bitcoin ETF will be provided by Fidelity’s cryptocurrency arm, Fidelity Digital Assets. Flow Traders and DRW will act as market makers.

Khurshid believes that the launch of the new bitcoin ETF will help ensure greater stability in the cryptocurrency market in the face of a massive sell-off and remove the barrier to entry for those investment companies that are authorized to invest only in regulated products.

Recall that earlier ARK Investment Management, founded by Cathie Wood, once again filed an application with the US Securities and Exchange Commission (SEC) to launch an ETF for bitcoin.

Source: Bits

- Article Bottom Advertisement -


Please enter your comment!
Please enter your name here

Hot Topics

Related Articles