The Launch Date Europe’s First Bitcoin ETF Revealed

Jacobi Asset Management, an investment company, announced Thursday that it will launch a Bitcoin Exchange-Traded Fund on the Euronext Amsterdam Exchange (ETF) in July.

Jacobi launches Europe’s First Bitcoin ETF

Official announcements by the firm noted that the Jacobi Bitcoin ETF will trade under the ticker BCOIN. Investors will be able to gain indirect exposure in this product to the Bitcoin performance.

Jacobi stated that it partnered with other companies, including Flow Traders as well Fidelity Digital Assets. This crypto arm of Fidelity Investments is leading asset manager company Fidelity Investments, in order to launch the ETF.

Fidelity Digital Assets provides custodial services. Flow Traders – a global market maker and proprietary trading company – along with DRW – a diversified trading company – will serve as market makers to facilitate trades.

Jamie Khurshid (CEO of Jacobi) stated that the Jacobi Bitcoin ETF will allow investors to access the underlying performance through a trusted investment structure.

The Jacobi Bitcoin ETF will be Europe’s first Bitcoin exchange-traded fund upon its launch. This is a major milestone in the cryptocurrency industry, especially considering the current market crisis.

SEC Rejects Grayscale Bitcoin Spot ETF

Europe is close to welcoming its first spot Bitcoin ETF. However, the United States continues rejecting such applications. The latest example is the Grayscale Bitcoin Spot ETF proposal.

CryptoPotato reported earlier today that Grayscale’s application to convert its flagship fund into a spot Bitcoin ETF was rejected by the U.S Securities and Exchange Commission (SEC).

Grayscale, the largest digital asset management company in the world, was hopeful that the SEC would approve its application. The firm believed it had met all requirements. The regulator found that the proposal did not meet the requirements to prevent market manipulations and fraud.

Grayscale was dissatisfied by the decision of the SEC and filed a lawsuit against it for violating the Administrative Procedure Act (APA) and Securities Exchange Act of 1934. Grayscale believes that the Commission failed to apply consistent treatment to similar investment vehicles.

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Marla Brooks

Marla Brooks – Financial Analysis My name is Marla Brooks, and I am the mainstream behind the”observednews.com”  for the powerful and most delicate insights into the latest activities in the financial analysis category. I started my journey as an independent financial consultant. I had approximately nine years of experience in this field. I am free soul so; my passion for exploring the world has taken me to the nations across the globe and given me the chance to report for a portion of the best news associations. Currently, I am a full-time editor as experienced in finance and started to use my abilities.

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