The Jacobi Bitcoin ETF is set to be the first spot Bitcoin exchange-traded fund in Europe. London-based exchange Jacobi Asset Management is planning a launch of the ETF in July to allow institutional and professional investors the opportunity to access Bitcoin’s performance for an annual management fee of 1.5%.
The Jacobi Bitcoin ETF will enable investors to access the underlying performance of BTC
Jacobi Asset Management announced the launch of the ETF in a press release on its official website on June 30, noting that the fund will start trading on Euronext Amsterdam – the Netherlands’ and one of the world’s oldest stock exchanges – with the ticker BCOIN from July.
Regulatory approval for the launch of the exchange-traded fund was issued by the Guernsey Financial Services Commission (GFSC), the financial regulatory body in the Bailiwick of Guernsey, in October of last year. Preparations have since then been made for the imminent inauguration of the financial product.
Fidelity Digital Services, a subsidiary of American financial services corporation Fidelity Investments, will be providing custodial services for the fund. Market makers will be trading firms DRW Holdings and Flow Trader. Additionally, during preparations for the listing of the product, legal issues were handled by Dutch law company Kennedy Van Der Laan.
Speaking on the launch, investment banker and CEO of Jacobi Asset Management, Jamie Khurshid, said, “The Jacobi Bitcoin ETF will enable investors access the underlying performance of this exciting asset class via a well-established and trusted investment structure.”
Khurshid mentioned that the ETF was launched with the goal of making the investment in virtual assets easier and “more familiar” for investors who find interest in the asset class.
Jacobi Asset Management is looking to make a mark in the global markets
Khurshid further expressed pleasure in working with the market makers (DRW and Flow Trader) and custodial services providing firm (Fidelity Digital Services), and noted that the launch is a substantial step for Jacobi Asset Management towards expansion. He stated that the firm would be bringing an “innovative product pipeline” to the market soon.
Jacobi Asset Management began in 2019 with a goal to create an environment where investors “could freely and safely embrace the exciting opportunities of digital assets.”
The exchange was founded by current CEO Jamie Khurshid, a former investment banker at Goldman Sachs Assessment Management LP. The team behind the firm shares a vision to make a mark in the global markets, and the launch of Europe’s first BTC ETF is a significant step towards that goal.