Amsterdam, [15th August, 2023] – Leading the way in cryptocurrency advancement, Europe debuts its first spot bitcoin ETF, a momentous accomplishment for the digital asset community. London-based Jacobi Asset Management has announced the launch of its innovative ETF on Euronext Amsterdam, offering an opportunity for institutional investors to merge the benefits of Bitcoin with environmental sustainability goals.
- London-based Jacobi Asset Management launches Europe’s first spot Bitcoin ETF on Euronext Amsterdam, a significant development achieved before the U.S. despite multiple application attempts to the U.S. Securities and Exchange Commission.
- The Jacobi FT Wilshere Bitcoin ETF stands out as the continent’s premier decarbonised digital asset fund, compliant with SFDR Article 8, using a unique Renewable Energy Certificate (REC) solution to match Bitcoin’s electricity consumption with equivalent clean power purchases.
- This groundbreaking ETF offers institutional investors the dual benefits of Bitcoin investment and environmental sustainability, setting a new standard for future cryptocurrency-based funds in the global market.
Dubbed the Jacobi FT Wilshere Bitcoin ETF, the fund will operate under the ticker “BCOIN“. Interestingly, this milestone was achieved even before the U.S. saw a similar product on its trading floors, despite numerous application attempts to the U.S. Securities and Exchange Commission.
The ETF, unlike many other financial instruments in Europe, holds direct ownership of the underlying asset, a distinction made evident by Jacobi’s clear stance against leveraging or the use of derivatives, characteristics often found in exchange-traded notes (ETNs). This fundamental difference allows ETF shareholders to own a fraction of the core asset, while ETN investors hold a debt instrument.
Further distinguishing itself, the ETF stands as Europe’s first decarbonised digital asset fund aligning with SFDR Article 8, highlighting Jacobi’s commitment to sustainability. Jacobi Asset Management, in partnership with Zumo, a digital asset platform, has pioneered a Renewable Energy Certificate (REC) solution. This initiative ensures that the electricity consumption from Bitcoin investment in the ETF is matched with an equivalent purchase of RECs. This unique approach stands apart from traditional carbon offsetting and presents a digital, blockchain-recorded proof of these certificates.
Martin Bednall, CEO of Jacobi Asset Management, expressed his enthusiasm, stating,
“We are leading the way for institutional investors to safely harness the potentials of digital assets using regulated structures like our ETF. Our fund owning the actual underlying asset is a testament to our commitment to transparency and innovation. Moreover, our environmental initiative is a step forward in making cryptocurrency investments eco-friendly.”
The ETF, backed by Fidelity Digital Assets for custodial services, will have its benchmark set by the FT Wilshire Bitcoin Blended Price Index, thanks to a collaboration with Wilshire Indexes.
Industry experts hail this development as a revolutionary leap in the financial and digital asset sectors, with many optimistic about the potential this sets for future cryptocurrency-based funds in the global market.
In some other news, we could have a lot of crypto pundits speculate that a decision on the Grayscale Bitcoin ETF could be made this week.
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