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Europe to soon get its first Bitcoin ETF on Euronext

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Cryptocurrencies are popular, despite their wild price swings. Ergo, it is no surprise that Jacobi Asset Management announced on Thursday that it would introduce the first Bitcoin exchange-traded fund (ETF) in Europe on the Euronext exchange.

The business announced that its Jacobi Bitcoin ETF would begin trading on Euronext Amsterdam in July under the ticker symbol “BCOIN.” Jacobi CEO Jamie Khurshid, a former Goldman Sachs banker said,

“The Jacobi Bitcoin ETF will enable investors to access the underlying performance of this exciting asset class via a well-established and trusted investment structure.”

So, what will change now?

CEO Jamie Khurshid founded Jacobi Asset Management in 2021. The company has experience in managing digital assets and is made up of “a diversified team of blockchain, technical, investment, and regulatory specialists.”

Khurshid added,

“Our goal at Jacobi is to make digital asset investments simpler and more familiar for institutional and professional investors.”

A spot Bitcoin ETF’s listing, according to Edd Carlton, an institutional digital asset trader at Flow Traders, “matched with the growing demand from institutional investors.” In fact, in the U.S, there have been calls for a spot Bitcoin ETF for many years.

However, only three foreign exchange-traded funds have been introduced thus far in Canada, Brazil, and Jersey, and they are all substantially smaller than a majority of U.S-based ETFs. The Jacobi Bitcoin ETF will be the largest spot Bitcoin ETF in the world, building on the spot ETFs in smaller markets.

More accessibility to Bitcoin now

The selection of ETFs available to European investors is less extensive than those available to U.S investors. In fact, only between 15% and 20% of retail investors in Europe utilize ETFs, compared to 40% of those in the U.S.

However, the decision to permit a spot Bitcoin ETF in Europe will probably open up a previously closed channel of entry for organizations like pension funds, mutual funds, and insurance companies. Given the paucity of alternatives for investing in Bitcoin through conventional channels, a spot Bitcoin ETF may become quite popular in Europe.

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Jibin Mathew George is Editor-in-Chief at AMBCrypto. A domain expert in International Relations (European Politics), he has always been a believer in the unlimited possibilities afforded by blockchain and by extension, cryptocurrencies. As someone who has been watching and writing about this space for over 5 years now, Jibin has closely tracked the emergence of cryptos and digital assets as a separate asset class in portfolios world over. A lawyer by training, he previously contributed to the News and Research desk of Diplomacy & Beyond Plus. Before his stint at D&B, he was Editor at ED Times. Jibin also takes a great interest in politics, especially the corresponding effect political decisions and fiscal policy have on the world of finance, with a special focus on cryptocurrencies.
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