Europe Launches First Bitcoin ETF
Europe has introduced its inaugural Spot Bitcoin Exchange-Traded Fund (ETF) with the unveiling of the Jacobi FT Wilshere Bitcoin ETF. This groundbreaking service, compliant with the regulations set by the Guernsey Financial Services Commission (GFSC), has been officially listed on Euronext Amsterdam, marking a pivotal moment two years after its initial approval.
BREAKING: 🇪🇺 Europe launches first spot #Bitcoin ETF.
— Watcher.Guru (@WatcherGuru) August 15, 2023
Europe’s First Spot Bitcoin ETF
Europe’s inaugural spot Bitcoin ETF launch arrives amid a flurry of anticipation, particularly as the United States has seen numerous companies submit applications for similar offerings. Jacobi’s ETF was granted approval in October 2021, and despite initial plans for a 2022 listing, external circumstances led to a postponement of the launch date.
In recent months, spot Bitcoin ETFs have emerged as a central topic within the digital asset realm. A surge in applications from both digital asset firms and traditional financial entities in the US has underlined the growing significance of this type of investment vehicle. Now, Europe has successfully ushered in its first-ever spot Bitcoin ETF. The introduction of The Jacobi FT Wilshere Bitcoin ETF represents a momentous occasion for the cryptocurrency industry. The ETF, trading under the ‘BCOIN’ ticker, not only marks a significant step forward for digital assets in Europe but also underscores the broader acceptance and integration of cryptocurrencies in the traditional financial landscape.
Jacobi’s ETF Journey
Jacobi has announced strategic partnerships to ensure a robust ecosystem for its ETF. Custodial services will be provided by Fidelity Digital Assets, while Flow Traders will serve as a market maker for the offering. The initial approval for Jacobi’s spot Bitcoin ETF was granted in 2021, with plans initially in place for a 2022 launch. However, market conditions within the industry, highlighted by the setbacks experienced by Terra and the crypto exchange FTX, led to a postponement of those plans.
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As Europe celebrates the launch of its inaugural spot Bitcoin ETF, attention remains on the United States, which is on the brink of potentially greenlighting its first similar offering. Despite a flurry of applications submitted to the US Securities and Exchange Commission (SEC), the timeline for potential approval in the country remains uncertain.
