First European Bitcoin ETF set to launch this month after 12-month delay

Europe’s first BTC ETF, the Jacobi Bitcoin (BTC) Exchange Traded Fund (ETF), will launch on Euronext Amsterdam later this month, Financial Times report July 13th.

Jacobi Asset Management is now in demand after an initial 12-month hiatus due to reportedly the 2022 Terra Luna crash of the cryptocurrency market, and the fund will go public this month. “We’re on track,” he said.

Jacobi ETFs are different from regular European ETFs

The distinguishing feature of the Jacobi ETF is its structure. Unlike traditional European exchange-traded instruments tied to digital assets, they are not organized as exchange-traded bills (ETNs). Jacobi emphasized this difference, saying that shareholders would own shares in the underlying assets of the ETF, as opposed to ETN investors, who essentially own a type of debt security.

Jacobi co-founder and COO Peter Lane further emphasized this difference:

“There has been a great deal of misinformation and misuse of the term ETF. [ETN] Perhaps to obfuscate the risks inherent in buying and investing in ETNs. ”

Jacobi Bitcoin ETF Approved in Guernsey

Additionally, Bitcoin ETFs are also approved in Guernsey, a jurisdiction likely chosen by asset managers for its flexibility compared to other European countries.

Some industry experts say bitcoin is difficult for asset managers to register in other European countries given that it does not qualify as an asset under the EU Agreement on Collective Investments in Transferable Securities (UCITS) rules. suggests that we may face

David Crosland, a partner at law firm Carrie Olsen, has reportedly said Guernsey’s flexibility has made it possible to launch regulated BTC funds that are inaccessible elsewhere in Europe. there is

Bitcoin ETF appetite is strong

The Jacobi ETF, meanwhile, comes at a time of heightened institutional interest in Bitcoin ETFs on the other side of the Atlantic.

Since BlackRock applied for a spot Bitcoin ETF in June, several other traditional financial institutions, including Fidelity, have submitted similar applications, and the US will soon launch its first Bitcoin spot ETF product. There is widespread optimism that the

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