Europe’s First Spot Bitcoin ETF Launched on Euronext Amsterdam
The Jacobi FT Wilshire Bitcoin ETF, the first spot Bitcoin ETF in Europe, was launched on the Amsterdam Euronext. It is a genuine BTC-collateralized ETF based on spot Bitcoin, making it tradable on a European exchange. The ETF is regulated by the Guernsey Financial Services Commission and traded under the ticker BCOIN. Custody services are provided by Fidelity Digital Assets, and Flow Trader acts as the market maker. The fund’s benchmark is the FT Wilshire Bitcoin Blended Price Index, and the decarbonization strategy includes a built-in renewable energy certificate (REC) solution created in collaboration with Zumo.
The Price of Bitcoin
At the time of publication, the price of Bitcoin had risen from $29,300 to $29,400 but later fluctuated between $29,300 and $29,460. Since July 24, Bitcoin’s price has remained relatively non-volatile between $29,000 and $30,000. The news of the spot Bitcoin ETF on the Amsterdam exchange was not highly anticipated compared to the focus on US exchanges and BlackRock’s application. The European market is not among the most important for the crypto sector, which is dominated by American and Asian markets.
Comments from Key Figures
Jacobi Asset Management CEO Martin Bednall stated that Europe is leading in opening up Bitcoin investing for institutional investors, providing safe and regulated structures like their ETF. Wilshire Indexes CEO Mark Makepeace believes the launch of the Jacobi FT Wilshire Bitcoin ETF is transformative for the global financial industry and offers an ESG-aligned digital asset solution. Zumo’s Environmental Manager Kirsteen Harrison emphasized the importance of decarbonizing the crypto sector and praised the collaboration with Jacobi Asset Management to create an ESG-aligned crypto offering.
Hot Take: The launch of Europe’s first spot Bitcoin ETF on Euronext Amsterdam is a significant development for institutional investors seeking regulated access to digital assets. While the European market may not be as dominant as the US and Asian markets, it demonstrates the growing interest in cryptocurrencies and the need for environmentally conscious solutions. The inclusion of a decarbonization strategy and renewable energy certificate solution sets a precedent for future ESG-aligned investment products in the crypto sector.
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