Market Profile Strategies - Jacobi Asset Manager Rolls Out Europe’s First Bitcoin ETF
Jacobi Asset Management has announced plans to launch the first Bitcoin ETF on Euronext Amsterdam. The ETF, called Jacobi Bitcoin ETF, received regulatory approval from the Guersey Financial Services Commission (GFSC) in October 2021. According to the announcement, trading on the Euronext platform will begin in July under the ticker BCOIN. Additionally, Fidelity Digital AssetsSM has been appointed to provide custodial services for the ETF, while DRW and Flow Traders will facilitate trading as market makers. However, independent Dutch law firm Kennedy Van der Laan provided legal support via a regulatory and listing process. “Our goal at Jacobi is to make digital asset investments simpler and more familiar for institutional and professional investors,” Chief Executive Officer of Jacobi Jamie Khurshid, commented. He added that the Jacobi Bitcoin ETF will allow investors to have access to the core performance of the existing asset class through a trusted and well-established investment structure. Khurshid stated that the company is working with all its partners, including Flow Traders and Fidelity Digital Assets. It is a major step for Jacobi Asset Management to be the first to launch a Bitcoin ETF on Euronext Amsterdam. It is also part of the company’s overall strategic goals to provide more innovation to the market. He added that launching the Bitcoin ETF is another milestone for the company’s goal of developing the institutional digital asset space. It is also in response to the increasing demand of institutional investors who are looking for ways to diversify their portfolios by including Bitcoin and other digital assets. Institutional Digital Asset Trader at Flow Traders, Edd Carlton, stated that Flow Traders has been with Jacobi for a long time. He noted that the company has been supporting the adoption and exposure of digital assets with Jacobi, and the company is excited about the latest development. Jacobi Asset Management will be offering European professional and institutional investors access to the Jacobi ETF through a simple investment vehicle, but users are expected to pay a management fee of 1.5% annually.
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