According to a Reuters article, Jacobi Asset Management is establishing the first spot bitcoin exchange-traded fund (ETF) in Europe via Euronext Amsterdam, the biggest exchange to host a spot bitcoin ETF.
The Jacobi Bitcoin ETF will have a 1.5 percent annual management fee and will be the Netherlands’ first primary listing of a digital asset fund.
With the Jacobi Bitcoin ETF, investors will be able to access the underlying performance of this exciting asset class through a well-established and trusted investment structure, said Jamie Khurshid, CEO of Jacobi Asset Management. At Jacobi, our goal is to make digital asset investing easier and more familiar for institutional and professional investors.
The fund, as a spot bitcoin ETF, will hold bitcoin on balance and has partnered with Fidelity Digital AssetsSM to serve as the fund’s custodian, while Flow Traders and DRW will act as market makers for the fund.
We are thrilled to be serving as the lead market maker for Europe’s first Bitcoin ETF, which represents yet another milestone in the development of the institutional digital assets space, stated Edd Carlton- Flow Trader’s institutional digital asset trader. This is also in line with growing demand from institutional investors looking to diversify their portfolios with Bitcoin and other digital assets.
The upcoming ETF is expected to begin trading on the Amsterdam exchange in July under the ticker symbol BCOIN after receiving regulatory approval from the Guernsey Financial Services Commission (GFSC) in October 2021.