Europe launches first spot bitcoin-ETF

Europe launches first spot bitcoin-ETF

Author: Robert Strickland (crypto-journalist)

Europe launches first spot bitcoin-ETF

Europe has launched its first spot bitcoin ETF, two years after the approval

The instrument has been listed on the Amsterdam Stock Exchange - Euronext Amsterdam - under the ticker BCOIN

UK-based Jacobi Asset Management has launched Europe's first spot bitcoin-ETF almost two years after it was approved. The instrument has been listed on the Amsterdam Stock Exchange (Euronext Amsterdam) under the ticker BCOIN, Coindesk reports.

The fund is regulated by the Guernsey Financial Services Commission (GFSC), the publication specifies.

Jacobi Asset Management first received approval to launch the fund from the GFSC back in October 2021 and planned to launch it in 2022. Later, the company changed its plans due to the unfavorable situation in the cryptocurrency market, in particular, the collapse of the Terra ecosystem and the bankruptcy of the FTX crypto exchange, the publication says.

In August, the SEC postponed a decision on Katie Wood's ARK 21Shares bitcoin-ETF application. The SEC is now reviewing more than 12 applications for spot bitcoin ETFs.

On August 8, Katie Wood said she expects the SEC to approve several bitcoin ETFs at once. In June, ARK Invest reported that the company was first in line for potential bitcoin-ETF approval because it was the first to file with the SEC.

In July, the SEC began reviewing bitcoin-ETF applications filed by major UCs.


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